Mercer Global Advisors Inc. increased its stake in Everest Group, Ltd. (NYSE: EG) by 11.1% during the second quarter, according to the most recent filing with the Securities and Exchange Commission. The firm now owns 37,931 shares of the company’s stock, worth $14,503,000.
Other institutional investors and hedge funds have also shown interest in Everest Group. American National Bank, Massmutual Trust Co. FSB, Heritage Wealth Advisors, FinTrust Capital Advisors LLC, and Hollencrest Capital Management have all acquired positions in the company.
Everest Group’s stock (NYSE: EG) traded down 0.2% to $387.50 on Friday. The company has a market capitalization of $16.77 billion, with a price-to-earnings ratio of 5.76. The business’s fifty-day moving average is $381.59, and the 200-day moving average is $379.75.
In terms of earnings, Everest Group reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97. The company had revenue of $4.23 billion for the quarter, up 15.8% year-over-year. Analysts forecast that Everest Group will post 61.66 EPS for the current year.
The company also announced a quarterly dividend of $2.00 per share to be paid on September 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%.
Wall Street analysts have weighed in on Everest Group, with various ratings and price targets. Morgan Stanley, BMO Capital Markets, Barclays, Keefe, Bruyette & Woods, and Wells Fargo & Company have all provided insights into the company’s performance.
Everest Group, Ltd. operates through its subsidiaries, providing reinsurance and insurance products globally. The company operates in two segments, Insurance, and Reinsurance, writing property and casualty reinsurance as well as specialty lines of business.
While Everest Group currently has a “Moderate Buy” rating among analysts, there are other growth stocks that analysts believe are better investment opportunities. MarketBeat has identified five stocks recommended by top-rated analysts that may offer better returns in the long run.
Investors looking to diversify their portfolios may want to consider these alternative options in addition to Everest Group. Growth stocks with strong potential for growth and earnings could provide a solid foundation for a well-rounded investment strategy.