Algebris UK Ltd. Takes $23.46 Million Position in Everest Group, Ltd. $EG

Key Points

• Algebris UK Ltd. disclosed a new position in Everest Group, buying 69,099 shares valued at about $23.46 million. The stake represents roughly 0.16% of Everest Group and about 1.1% of Algebris’s portfolio.
• Everest Group shares were trading around $358.41, near their 12-month high of $368.29. The company has a market cap of about $14.18 billion and recently reported strong quarterly results, including $16.08 EPS on revenue of $4.07 billion.
• The company also announced a $2.00 quarterly dividend, implying an annualized yield of about 2.2%. Meanwhile, analysts are mostly cautious, with an average rating of Hold and an average price target of $374.

Algebris UK Ltd. acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 69,099 shares of the company's stock, valued at approximately $23,460,000. Everest Group makes up approximately 1.1% of Algebris UK Ltd.'s portfolio, making the stock its 24th biggest position. Algebris UK Ltd. owned about 0.16% of Everest Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EG. AQR Capital Management LLC increased its holdings in shares of Everest Group by 70.3% during the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock valued at $695,275,000 after acquiring an additional 830,418 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Everest Group by 12,322.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock valued at $176,205,000 after acquiring an additional 515,063 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Everest Group by 157.5% during the third quarter. Alliancebernstein L.P. now owns 291,886 shares of the company's stock valued at $102,227,000 after acquiring an additional 178,536 shares in the last quarter. Causeway Capital Management LLC bought a new stake in shares of Everest Group during the third quarter valued at approximately $61,531,000. Finally, Vulcan Value Partners LLC increased its holdings in shares of Everest Group by 13.9% during the third quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company's stock valued at $496,514,000 after acquiring an additional 172,479 shares in the last quarter. Institutional investors own 92.64% of the company's stock.

Everest Group Trading Up 0.4%

Shares of Everest Group stock opened at $358.41 on Thursday. The stock has a fifty day simple moving average of $337.12 and a 200 day simple moving average of $330.64. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $368.29. The company has a market capitalization of $14.18 billion, a P/E ratio of 7.29, a price-to-earnings-growth ratio of 0.27 and a beta of 0.35. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%.The business had revenue of $4.07 billion during the quarter. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 52.71 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a $2.00 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $8.00 annualized dividend and a yield of 2.2%. Everest Group's payout ratio is currently 16.27%.

Insiders Place Their Bets

In other Everest Group news, CEO Jason Keen sold 775 shares of the business's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the transaction, the chief executive officer owned 8,170 shares of the company's stock, valued at approximately $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

EG has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on Everest Group from $366.00 to $376.00 and gave the company a "market perform" rating in a report on Thursday, May 14th. UBS Group boosted their price objective on Everest Group from $370.00 to $374.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Barclays upped their price target on Everest Group from $377.00 to $380.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Bank of America upped their price target on Everest Group from $430.00 to $454.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Everest Group in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Everest Group has an average rating of "Hold" and an average target price of $374.00.

Everest Group Profile

Everest Group NYSE: EG is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.

Want to see what other hedge funds are holding EG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everest Group, Ltd. (NYSE:EG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.