BayBridge Capital Group LLC decreased its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 62.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,170 shares of the company's stock after selling 1,970 shares during the quarter. BayBridge Capital Group LLC's holdings in Everest Group were worth $425,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of EG. Vanguard Group Inc. lifted its holdings in Everest Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after acquiring an additional 43,793 shares during the period. Norges Bank acquired a new position in Everest Group in the fourth quarter valued at approximately $488,588,000. Franklin Resources Inc. lifted its holdings in Everest Group by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after acquiring an additional 4,544 shares during the period. Geode Capital Management LLC lifted its holdings in Everest Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after acquiring an additional 8,321 shares during the period. Finally, Vulcan Value Partners LLC lifted its holdings in Everest Group by 279.1% in the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after acquiring an additional 720,572 shares during the period. Institutional investors and hedge funds own 92.64% of the company's stock.
Everest Group Price Performance
Shares of EG traded down $5.08 during trading hours on Friday, hitting $334.74. 430,435 shares of the stock were exchanged, compared to its average volume of 394,750. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.24 and a beta of 0.53. The stock's 50-day moving average price is $345.89 and its two-hundred day moving average price is $352.81.
Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The firm had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the previous year, the firm posted $16.32 earnings per share. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. Research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.
Everest Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's payout ratio is 41.15%.
Wall Street Analyst Weigh In
EG has been the subject of a number of analyst reports. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $376.00 to $415.00 in a report on Friday, April 11th. UBS Group decreased their price target on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Barclays reduced their target price on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods reduced their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company reduced their target price on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $398.09.
Read Our Latest Analysis on EG
Insider Buying and Selling
In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. This represents a 10.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the acquisition, the chief executive officer now owns 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.
About Everest Group
(
Free Report)
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.
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