Aberdeen Group plc Purchases 11,367 Shares of Everest Group, Ltd. $EG

Key Points

• Aberdeen Group plc has increased its ownership in Everest Group, Ltd. by 55.8%, acquiring an additional 11,367 shares to hold a total of 31,727 shares valued at approximately $11.5 million.
• Wall Street analysts generally hold a positive outlook on Everest Group, with a consensus rating of "Moderate Buy," and varying target prices, the highest being $410.00.
• Everest Group recently announced a quarterly dividend of $2.00 per share, with an annualized yield of 2.4%, demonstrating its commitment to returning value to shareholders.

Aberdeen Group plc increased its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 55.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 31,727 shares of the company's stock after purchasing an additional 11,367 shares during the quarter. Aberdeen Group plc owned approximately 0.07% of Everest Group worth $11,536,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in Everest Group during the 4th quarter valued at approximately $29,000. Tsfg LLC bought a new position in Everest Group during the first quarter worth about $33,000. Zions Bancorporation National Association UT acquired a new stake in Everest Group in the 1st quarter valued at $34,000. Optiver Holding B.V. acquired a new stake in shares of Everest Group in the 4th quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC boosted 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 buying an additional 68 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EG has been the topic of several research analyst reports. Barclays increased their target price on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods raised their target price on Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Morgan Stanley upped their price objective on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Janney Montgomery Scott assumed coverage on Everest Group in a research note on Friday, June 20th. They set a "buy" rating and a $425.00 target price for the company. Finally, Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $397.14.

Insider Activity at Everest Group

In related news, CEO James Allan Williamson bought 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 acquisition, the chief executive officer owned 25,618 shares of the company's stock, valued at $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.

Everest Group Price Performance

NYSE:EG traded down $2.73 during trading hours on Monday, reaching $341.21. 202,524 shares of the company were exchanged, compared to its average volume of 329,420. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The company has a market capitalization of $14.31 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.25 and a beta of 0.50. The business has a 50 day moving average of $335.46 and a 200 day moving average of $343.46.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, topping the consensus estimate of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the prior year, the business posted $16.85 earnings per share. Everest Group's revenue was up 6.2% compared to the same quarter last year. Research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $2.00 per share. 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 2.3%. Everest Group's payout ratio is 42.46%.

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.