Aigen Investment Management LP Takes $1.30 Million Position 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 acquired a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,566 shares of the company's stock, valued at approximately $1,296,000.

Several other large investors also recently added to or reduced their stakes in EG. Wells Fargo & Company MN increased its holdings in Everest Group by 66.9% in the 4th quarter. Wells Fargo & Company MN now owns 18,393 shares of the company's stock worth $6,667,000 after acquiring an additional 7,372 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Everest Group by 42.7% in the 4th quarter. Renaissance Technologies LLC now owns 73,200 shares of the company's stock worth $26,532,000 after acquiring an additional 21,900 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Everest Group in the 4th quarter worth about $48,290,000. Treasurer of the State of North Carolina increased its holdings in Everest Group by 0.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,426 shares of the company's stock worth $7,041,000 after acquiring an additional 90 shares during the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Everest Group in the 4th quarter worth about $21,615,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

Shares of EG opened at $329.78 on Monday. The company has a market cap of $13.83 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 0.24 and a beta of 0.50. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $336.54 and a 200-day moving average price of $344.51. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, topping analysts' consensus estimates of $15.14 by $2.22. The company 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%. Everest Group's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $16.85 EPS. As a group, equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a $2.00 dividend. 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 payout ratio is 42.46%.

Analyst Ratings Changes

Several research analysts have commented on the company. Janney Montgomery Scott assumed coverage on Everest Group in a research note on Friday, June 20th. They issued a "buy" rating and a $425.00 target price for the company. UBS Group cut their target price on Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Raymond James Financial restated a "strong-buy" rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. 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 research note on Wednesday, August 6th. Finally, Wells Fargo & Company restated a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $402.50.

Insider Buying and Selling

In related news, CEO James Allan Williamson purchased 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were acquired at an average cost of $337.97 per share, with a total value of $337,970.00. Following the purchase, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $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 at the SEC website. 1.10% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.