Advyzon Investment Management LLC Takes $303,000 Position in Everest Group, Ltd. (NYSE:EG)

Key Points

• Advyzon Investment Management LLC has acquired a new stake in Everest Group, purchasing 834 shares valued at approximately $303,000 in the first quarter.
• CEO James Allan Williamson bought 1,000 shares of Everest Group at an average price of $337.97, increasing his ownership by 4.06% to a total value of about $8.66 million.
• Everest Group reported quarterly earnings of $17.36 per share, surpassing analysts’ estimates and showing a 6.2% increase in year-over-year revenue.

Advyzon Investment Management LLC acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 834 shares of the company's stock, valued at approximately $303,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in Everest Group in the fourth quarter worth $29,000. Tsfg LLC acquired a new position in shares of Everest Group during the first quarter valued at about $33,000. Optiver Holding B.V. purchased a new position in shares of Everest Group in the 4th quarter valued at approximately $51,000. Bruce G. Allen Investments LLC boosted its stake in Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after purchasing an additional 68 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in Everest Group during the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EG shares. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research report on Wednesday. Morgan Stanley upped their price objective on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. UBS Group dropped their target price on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Finally, Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a research report on Monday. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $402.50.

Everest Group Trading Up 0.5%

Shares of EG stock traded up $1.63 on Friday, reaching $329.78. 245,615 shares of the stock were exchanged, compared to its average volume of 329,048. The firm has a 50 day moving average of $336.54 and a two-hundred day moving average of $344.77. The stock has a market cap of $13.83 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 0.24 and a beta of 0.50. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced 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. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $16.85 EPS. On average, research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is presently 42.46%.

Insider Transactions at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer directly owned 25,618 shares of the company's stock, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company's stock.

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.