Oak Thistle LLC acquired a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,283 shares of the company's stock, valued at approximately $829,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. bought a new position in Everest Group in the fourth quarter valued at about $29,000. Tsfg LLC bought a new position in Everest Group in the first quarter valued at about $33,000. Optiver Holding B.V. bought a new position in Everest Group in the fourth quarter valued at about $51,000. Bruce G. Allen Investments LLC raised its position in Everest Group by 79.1% in the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock valued at $56,000 after purchasing an additional 68 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in Everest Group in the fourth quarter valued at about $104,000. 92.64% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on EG. 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 report on Thursday, May 1st. Morgan Stanley raised their price objective 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. Raymond James Financial restated a "strong-buy" rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Janney Montgomery Scott began coverage on Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their target price on Everest Group from $402.00 to $405.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $400.83.
Get Our Latest Stock Analysis on EG
Insider Activity
In other news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were purchased at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the purchase, the chief executive officer directly owned 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.
Everest Group Stock Up 1.4%
Shares of NYSE:EG traded up $4.67 during mid-day trading on Friday, hitting $336.56. 189,705 shares of the company traded hands, compared to its average volume of 318,279. The stock has a market cap of $14.32 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.26 and a beta of 0.51. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The stock has a 50-day moving average price of $338.73 and a two-hundred day moving average price of $346.86.
Everest Group (NYSE:EG - Get Free Report) last announced its earnings results 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 company had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $16.32 EPS. On average, equities research analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share 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 paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.38%. Everest Group's payout ratio is presently 41.15%.
About Everest Group
(
Free Report)
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.
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