Jefferies Financial Group Inc. Acquires New Holdings in Everest Group, Ltd. (NYSE:EG)

Jefferies Financial Group Inc. purchased a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,162 shares of the company's stock, valued at approximately $4,771,000.

A number of other institutional investors also recently added to or reduced their stakes in EG. Vanguard Group Inc. lifted its position in shares of Everest Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after buying an additional 43,793 shares during the last quarter. Norges Bank purchased a new stake in shares of Everest Group during the 4th quarter worth approximately $488,588,000. Franklin Resources Inc. lifted its position in shares of Everest Group by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock worth $464,533,000 after buying an additional 4,544 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Everest Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock worth $424,344,000 after buying an additional 8,321 shares during the last quarter. Finally, Vulcan Value Partners LLC lifted its position in shares of Everest Group by 279.1% during the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock worth $354,768,000 after buying an additional 720,572 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analyst Weigh In

EG has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective 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. 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. Raymond James reiterated a "strong-buy" rating and issued a $410.00 price target (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Barclays reduced their price target on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and upped their price target for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Everest Group has a consensus rating of "Moderate Buy" and a consensus price target of $398.09.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. This represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Everest Group Stock Performance

EG traded up $0.68 during trading on Friday, hitting $347.03. The stock had a trading volume of 630,817 shares, compared to its average volume of 388,457. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $14.76 billion, a P/E ratio of 11.05, a PEG ratio of 0.24 and a beta of 0.58. The company's 50-day moving average price is $348.32 and its 200 day moving average price is $355.41. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. 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, equities research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.31%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

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.