Everest Group, Ltd. (NYSE:EG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 90.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,005 shares of the company's stock after selling 18,211 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Everest Group were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of EG. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Everest Group by 16.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,671 shares of the company's stock worth $1,691,000 after buying an additional 658 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Everest Group by 52.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 22,778 shares of the company's stock worth $8,276,000 after buying an additional 7,830 shares during the period. Perpetual Ltd purchased a new stake in shares of Everest Group in the 1st quarter worth $37,919,000. Balefire LLC lifted its holdings in shares of Everest Group by 14.2% in the 1st quarter. Balefire LLC now owns 957 shares of the company's stock worth $348,000 after buying an additional 119 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Everest Group by 10.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 95,414 shares of the company's stock worth $34,667,000 after buying an additional 8,928 shares during the period. Institutional investors own 92.64% of the company's stock.

Everest Group Stock Down 0.4%

Everest Group stock traded down $1.27 during midday trading on Friday, reaching $339.18. The company's stock had a trading volume of 294,103 shares, compared to its average volume of 405,934. The stock's 50-day simple moving average is $341.09 and its 200-day simple moving average is $348.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market capitalization of $14.43 billion, a P/E ratio of 17.45, a PEG ratio of 0.27 and a beta of 0.51. 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, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $16.32 earnings per share. On average, sell-side analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio is presently 41.15%.

Analysts Set New Price Targets

Several brokerages have weighed in on EG. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Keefe, Bruyette & Woods upped their price objective on Everest Group from $402.00 to $405.00 and gave the stock an "outperform" rating in a research note on Wednesday. Evercore ISI decreased their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Raymond James Financial restated a "strong-buy" rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, Janney Montgomery Scott started coverage on Everest Group in a research note on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $400.83.

Insider Buying and Selling at Everest Group

In other news, CEO James Allan Williamson acquired 1,000 shares of the business's stock in a transaction dated 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 completion of the acquisition, the chief executive officer 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

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.