Interval Partners LP Purchases New Stake in Everest Group, Ltd. $EG

Key Points

• Interval Partners LP acquired 14,271 shares of Everest Group, Ltd. (NYSE:EG) in the first quarter, valued at approximately $5,185,000.
• CEO James Allan Williamson purchased 1,000 shares at an average cost of $337.97 each, increasing his ownership to 25,618 shares valued at around $8.6 million.
• Everest Group has a consensus rating of "Moderate Buy" and a 12-month price target of $397.14, following recent upgrades and downgrades from various brokerages.

Interval Partners LP bought a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,271 shares of the company's stock, valued at approximately $5,185,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC boosted its stake in shares of Everest Group by 3.7% in 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 during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Everest Group by 3.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company's stock valued at $372,000 after buying an additional 30 shares during the period. Legacy Advisors LLC boosted its stake in shares of Everest Group by 5.5% in 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 during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Everest Group by 0.7% in 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 during the period. Finally, Vontobel Holding Ltd. boosted its stake in shares of Everest Group by 2.1% in the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company's stock valued at $647,000 after buying an additional 36 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EG shares. Citigroup started coverage on Everest Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $362.00 target price on the stock. Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a research report on Monday, August 4th. Cantor Fitzgerald raised Everest Group to a "hold" rating in a research report on Wednesday, August 13th. Barclays raised their target price on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Morgan Stanley raised their target price on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.14.

Everest Group Stock Performance

EG traded down $5.35 during trading on Friday, hitting $339.91. 195,439 shares of the stock were exchanged, compared to its average volume of 271,446. The firm has a market capitalization of $14.26 billion, a P/E ratio of 18.04, a PEG ratio of 0.25 and a beta of 0.51. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The stock has a fifty day moving average price of $336.54 and a two-hundred day moving average price of $343.95. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $16.85 earnings per share. As a group, sell-side analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group's payout ratio is presently 42.46%.

Insider Activity

In related news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the acquisition, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

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.