Deprince Race & Zollo Inc. Boosts Stake in Everest Group, Ltd. (NYSE:EG)

Deprince Race & Zollo Inc. increased its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 67.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,745 shares of the company's stock after buying an additional 37,303 shares during the period. Deprince Race & Zollo Inc. owned about 0.22% of Everest Group worth $33,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in Everest Group in the fourth quarter worth $488,588,000. Vulcan Value Partners LLC increased its position in Everest Group by 279.1% during the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after buying an additional 720,572 shares in the last quarter. Sterling Capital Management LLC raised its stake in Everest Group by 11,756.0% in the fourth quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock valued at $100,987,000 after buying an additional 276,266 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in Everest Group by 14,518.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock valued at $68,882,000 after buying an additional 188,740 shares during the last quarter. Finally, Donald Smith & CO. Inc. acquired a new stake in Everest Group in the fourth quarter worth about $56,341,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

Shares of NYSE:EG traded up $1.09 during trading on Tuesday, hitting $348.89. 158,704 shares of the stock traded hands, compared to its average volume of 375,277. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $352.57 and a two-hundred day moving average price of $357.60. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The firm had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the previous year, the firm posted $16.32 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.29%. Everest Group's dividend payout ratio is presently 41.15%.

Analyst Ratings Changes

EG has been the subject of a number of research analyst reports. UBS Group reduced their target price on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company decreased their target price on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Evercore ISI reduced their price target on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Everest Group presently has a consensus rating of "Moderate Buy" and an average target price of $397.18.

Insider Buying and Selling

In other news, Director Geraldine Losquadro sold 1,500 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

About Everest Group

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.