Perpetual Ltd Acquires New Stake in Everest Group, Ltd. (NYSE:EG)

Perpetual Ltd bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 104,366 shares of the company's stock, valued at approximately $37,919,000. Perpetual Ltd owned approximately 0.22% of Everest Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EG. Balefire LLC increased its holdings in Everest Group by 14.2% during the first quarter. Balefire LLC now owns 957 shares of the company's stock worth $348,000 after buying an additional 119 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Everest Group by 10.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 95,414 shares of the company's stock worth $34,667,000 after acquiring an additional 8,928 shares during the period. Perigon Wealth Management LLC raised its position in shares of Everest Group by 8.7% in the first quarter. Perigon Wealth Management LLC now owns 2,054 shares of the company's stock valued at $746,000 after buying an additional 165 shares in the last quarter. Lecap Asset Management Ltd. boosted its stake in shares of Everest Group by 143.2% in the first quarter. Lecap Asset Management Ltd. now owns 6,775 shares of the company's stock valued at $2,462,000 after buying an additional 3,989 shares during the period. Finally, Hi Line Capital Management LLC grew its holdings in shares of Everest Group by 2.2% during the 1st quarter. Hi Line Capital Management LLC now owns 10,580 shares of the company's stock worth $3,844,000 after purchasing an additional 228 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Stock Down 0.7%

Shares of Everest Group stock traded down $2.53 on Friday, hitting $336.89. The company had a trading volume of 499,493 shares, compared to its average volume of 401,818. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 0.26 and a beta of 0.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. The stock has a 50 day moving average of $344.16 and a 200-day moving average of $350.34.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $16.32 earnings per share. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.37%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Analyst Upgrades and Downgrades

EG has been the topic of a number of research analyst reports. Barclays reduced their target price on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Evercore ISI decreased their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company decreased their target price on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. UBS Group lowered 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, Keefe, Bruyette & Woods reduced their price objective on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $400.33.

Insider Transactions at Everest Group

In related news, CEO James Allan Williamson purchased 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was purchased at an average cost of $337.97 per share, with a total value of $337,970.00. Following the completion of the acquisition, the chief executive officer now directly owns 25,618 shares of the company's stock, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Everest Group Company 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.