Amundi Has $65.29 Million Stake in Everest Group, Ltd. $EG

Key Points

• Amundi increased its stake in Everest Group by 72.6%, acquiring 75,920 shares and bringing its total ownership to $65.3 million.
• Everest Group reported earnings of $17.36 per share for the last quarter, surpassing analysts' estimates of $15.14, and showed a 6.2% revenue growth year-over-year.
• The company has declared a quarterly dividend of $2.00 per share, set to be paid on September 19th, resulting in an annualized dividend yield of 2.4%.

Amundi increased its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 72.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,484 shares of the company's stock after acquiring an additional 75,920 shares during the quarter. Amundi owned about 0.42% of Everest Group worth $65,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EG. Captrust Financial Advisors boosted its stake in Everest Group by 11.3% during the 4th quarter. Captrust Financial Advisors now owns 2,588 shares of the company's stock worth $938,000 after acquiring an additional 262 shares during the last quarter. Deutsche Bank AG boosted its stake in Everest Group by 28.4% during the 4th quarter. Deutsche Bank AG now owns 232,730 shares of the company's stock worth $84,355,000 after acquiring an additional 51,492 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Everest Group during the 4th quarter worth approximately $5,093,000. Ethic Inc. boosted its stake in Everest Group by 35.2% during the 4th quarter. Ethic Inc. now owns 5,122 shares of the company's stock worth $1,856,000 after acquiring an additional 1,334 shares during the last quarter. Finally, Graham Capital Management L.P. boosted its stake in Everest Group by 146.9% during the 4th quarter. Graham Capital Management L.P. now owns 2,022 shares of the company's stock worth $733,000 after acquiring an additional 1,203 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on EG. Wells Fargo & Company restated a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Citigroup began coverage on shares of Everest Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $362.00 target price on the stock. Morgan Stanley raised their target price on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a 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 on the stock in a report on Wednesday, July 9th. Finally, Janney Montgomery Scott began coverage on shares of Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $397.14.

Everest Group Stock Up 0.3%

Shares of NYSE EG traded up $0.98 during midday trading on Friday, reaching $349.42. The company's stock had a trading volume of 487,609 shares, compared to its average volume of 278,528. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The stock has a market capitalization of $14.65 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.26 and a beta of 0.51. The stock has a 50 day simple moving average of $337.11 and a 200-day simple moving average of $344.01.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the company earned $16.85 earnings per share. The firm's revenue was up 6.2% compared to the same quarter last year. Equities research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors 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 yield of 2.3%. The ex-dividend date is Wednesday, September 3rd. Everest Group's payout ratio is presently 42.46%.

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.