879 Shares in Everest Group, Ltd. (NYSE:EG) Purchased by Machina Capital S.A.S.

Key Points

• Machina Capital S.A.S. acquired 879 shares of Everest Group, Ltd. in Q1, amounting to approximately $319,000.
• Everest Group's stock has received a consensus rating of "Moderate Buy" with a target price of $400.83, according to multiple analysts.
• The company announced a quarterly dividend of $2.00 per share, reflecting an annualized yield of 2.38% with a payout ratio of 41.15%.

Machina Capital S.A.S. purchased a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 879 shares of the company's stock, valued at approximately $319,000.

Several other hedge funds have also recently modified their holdings of EG. LPL Financial LLC raised its stake in shares of Everest Group by 37.2% in the fourth quarter. LPL Financial LLC now owns 31,988 shares of the company's stock worth $11,594,000 after purchasing an additional 8,675 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Everest Group by 54.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,385 shares of the company's stock worth $502,000 after purchasing an additional 489 shares during the last quarter. Korea Investment CORP raised its stake in shares of Everest Group by 121.8% in the fourth quarter. Korea Investment CORP now owns 26,948 shares of the company's stock worth $9,768,000 after purchasing an additional 14,800 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Everest Group by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 69,457 shares of the company's stock worth $25,362,000 after purchasing an additional 7,523 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new position in shares of Everest Group in the fourth quarter worth $4,809,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EG shares. Wells Fargo & Company boosted their price target on Everest Group from $361.00 to $362.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Barclays upped their price objective on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Raymond James Financial reiterated a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Evercore ISI reduced 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. Finally, UBS Group reduced their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Everest Group presently has an average rating of "Moderate Buy" and an average price target of $400.83.

Everest Group Stock Performance

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's fifty day moving average price is $338.73 and its 200-day moving average price is $346.86. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51.

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 (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 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 business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $16.32 EPS. Research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is 41.15%.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson acquired 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was purchased at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the purchase, the chief executive officer directly owned 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

About Everest Group

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.