Aigen Investment Management LP Invests $1.30 Million in Everest Group, Ltd. (NYSE:EG)

Key Points

• Aigen Investment Management LP has acquired a new position in Everest Group, Ltd., purchasing 3,566 shares valued at approximately $1.30 million.
• Everest Group's latest earnings report shows earnings per share of $17.36, exceeding analysts' expectations by $2.22, with quarterly revenue reaching $4.49 billion.
• The company declared a quarterly dividend of $2.00 per share, yielding 2.4% annually, maintaining a payout ratio of 42.46%.

Aigen Investment Management LP bought a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,566 shares of the company's stock, valued at approximately $1,296,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new position in Everest Group during the 4th quarter valued at approximately $29,000. Tsfg LLC acquired a new position in Everest Group during the 1st quarter worth $33,000. Zions Bancorporation National Association UT acquired a new position in Everest Group during the 1st quarter worth $34,000. Optiver Holding B.V. acquired a new position in Everest Group during the 4th quarter worth $51,000. Finally, Bruce G. Allen Investments LLC boosted its position in Everest Group by 79.1% during the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after acquiring an additional 68 shares during the period. Institutional investors own 92.64% of the company's stock.

Insider Activity at Everest Group

In related news, CEO James Allan Williamson acquired 1,000 shares of the 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 acquisition, the chief executive officer 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company's stock.

Everest Group Stock Down 0.8%

Everest Group stock traded down $2.63 during mid-day trading on Friday, hitting $334.50. The company's stock had a trading volume of 110,581 shares, compared to its average volume of 404,166. The firm's 50 day moving average is $335.35 and its 200 day moving average is $343.85. The company has a market cap of $14.03 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 0.25 and a beta of 0.50. 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 52-week low of $320.00 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $15.14 by $2.22. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $16.85 EPS. On average, analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently disclosed 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group's dividend payout ratio is 42.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EG shares. Wells Fargo & Company reiterated a "mixed" rating on shares of Everest Group in a research report on Monday, August 4th. Citigroup started coverage on shares of Everest Group in a research report on Wednesday. They issued a "neutral" rating and a $362.00 target price for the company. Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. UBS Group cut their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Finally, Evercore ISI cut their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Seven 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $397.14.

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.