Banque Cantonale Vaudoise Makes New $1.69 Million Investment in Everest Group, Ltd. (NYSE:EG)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Everest Group, Ltd., purchasing 4,649 shares valued at approximately $1.7 million during the first quarter of the year.
• Everest Group reported a quarterly earnings per share of $17.36, exceeding analysts' expectations of $15.14, and also announced a quarterly dividend of $2.00 per share.
• Analysts have issued varying price targets for Everest Group, with recent reports suggesting a consensus target price of around $400.83, marking a mix of "buy" and "hold" ratings.

Banque Cantonale Vaudoise bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,649 shares of the company's stock, valued at approximately $1,689,000.

Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in shares of Everest Group during the 4th quarter worth approximately $29,000. Tsfg LLC purchased a new stake in shares of Everest Group during the first quarter valued at approximately $33,000. Optiver Holding B.V. bought a new stake in Everest Group during the fourth quarter worth $51,000. Bruce G. Allen Investments LLC boosted its position in Everest Group by 79.1% in the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after purchasing an additional 68 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in Everest Group in the 4th quarter valued at $104,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group lowered their target price on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Janney Montgomery Scott started coverage on shares of Everest Group in a research note on Friday, June 20th. They set a "buy" rating and a $425.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on Everest Group from $361.00 to $362.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Everest Group has an average rating of "Moderate Buy" and a consensus price target of $400.83.

Everest Group Price Performance

EG stock traded down $5.11 during mid-day trading on Monday, reaching $326.23. 235,968 shares of the company traded hands, compared to its average volume of 410,142. The company has a fifty day moving average price of $337.88 and a 200-day moving average price of $345.74. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The company has a market capitalization of $13.88 billion, a P/E ratio of 17.32, a P/E/G 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 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping 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 analysts' expectations of $4.22 billion. During the same quarter last year, the company earned $16.85 EPS. The firm's revenue was up 6.2% compared to the same quarter last year. As a group, analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. Everest Group's dividend payout ratio (DPR) is presently 42.46%.

Insider Buying and Selling

In related news, CEO James Allan Williamson acquired 1,000 shares of Everest Group 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 transaction, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Everest Group 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.