Graham Capital Management L.P. Increases Stock Position in Everest Group, Ltd. (NYSE:EG)

Graham Capital Management L.P. grew its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 146.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,022 shares of the company's stock after purchasing an additional 1,203 shares during the quarter. Graham Capital Management L.P.'s holdings in Everest Group were worth $733,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of EG. Vanguard Group Inc. grew its holdings in Everest Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after buying an additional 43,793 shares in the last quarter. Norges Bank acquired a new stake in Everest Group during the fourth quarter worth about $488,588,000. Franklin Resources Inc. raised its stake in Everest Group by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock worth $464,533,000 after purchasing an additional 4,544 shares during the period. Geode Capital Management LLC boosted its holdings in Everest Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after purchasing an additional 8,321 shares during the last quarter. Finally, Vulcan Value Partners LLC grew its stake in shares of Everest Group by 279.1% in 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 during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Up 0.1%

NYSE:EG traded up $0.40 during midday trading on Tuesday, reaching $347.97. The company had a trading volume of 239,276 shares, compared to its average volume of 424,692. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.24 and a beta of 0.58. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock's fifty day simple moving average is $351.37 and its 200-day simple moving average is $356.78.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $16.32 earnings per share. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.30%. Everest Group's payout ratio is 41.15%.

Insider Transactions at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was 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 in the company, 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 through the SEC website. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays decreased their price objective on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company decreased their price target on Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. BMO Capital Markets cut Everest Group from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. UBS Group cut their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Everest Group presently has an average rating of "Moderate Buy" and an average target price of $398.09.

Everest Group Profile

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.