Perpetual Ltd Buys Shares of 104,366 Everest Group, Ltd. (NYSE:EG)

Perpetual Ltd purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC grew its holdings in Everest Group by 3.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company's stock valued at $306,000 after buying an additional 30 shares in the last quarter. Legacy Advisors LLC grew its holdings in Everest Group by 5.5% during the 1st quarter. Legacy Advisors LLC now owns 599 shares of the company's stock valued at $218,000 after buying an additional 31 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Everest Group by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company's stock valued at $1,913,000 after buying an additional 36 shares in the last quarter. Van Den Berg Management I Inc. grew its holdings in Everest Group by 0.3% during the 4th quarter. Van Den Berg Management I Inc. now owns 13,462 shares of the company's stock valued at $4,879,000 after buying an additional 40 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Everest Group by 0.8% during the 1st quarter. Handelsbanken Fonder AB now owns 6,416 shares of the company's stock valued at $2,331,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Trading Up 1.1%

Shares of EG stock traded up $3.63 on Monday, reaching $340.41. 387,505 shares of the company's stock were exchanged, compared to its average volume of 402,301. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $14.48 billion, a PE ratio of 17.51, a P/E/G ratio of 0.26 and a beta of 0.53. The company's fifty day simple moving average is $343.84 and its 200 day simple moving average is $349.84.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the business posted $16.32 earnings per share. Everest Group's revenue was up 3.1% on a year-over-year basis. As a group, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 price objective (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Janney Montgomery Scott assumed coverage on Everest Group in a research note on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective for the company. Wells Fargo & Company lowered their price objective on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Finally, Evercore ISI lowered their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Everest Group presently has an average rating of "Moderate Buy" and an average target price of $400.33.

Insiders Place Their Bets

In other news, CEO James Allan Williamson bought 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was acquired at an average cost of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer directly owned 25,618 shares in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.