Bayforest Capital Ltd Purchases 1,693 Shares of Everest Group, Ltd. $EG

Key Points

• Bayforest Capital Ltd increased its stake in Everest Group by 1,946.0%, acquiring a total of 1,780 shares valued at $647,000 following significant purchases in the first quarter.
• Everest Group's latest earnings report showed an EPS of $17.36, exceeding analysts' expectations of $15.14, while revenue reached $4.49 billion with a year-over-year growth of 6.2%.
• The company declared a quarterly dividend of $2.00 per share, leading to an annualized dividend yield of 2.4%, with a payout ratio of 42.46%.

Bayforest Capital Ltd boosted its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 1,946.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,780 shares of the company's stock after acquiring an additional 1,693 shares during the quarter. Bayforest Capital Ltd's holdings in Everest Group were worth $647,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EG. Captrust Financial Advisors increased its stake in Everest Group by 11.3% in 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 increased its stake in Everest Group by 28.4% in 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 in the 4th quarter worth about $5,093,000. Ethic Inc. increased its stake in Everest Group by 35.2% in 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. increased its stake in Everest Group by 146.9% in 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. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Up 0.3%

NYSE EG traded up $0.98 on Friday, hitting $349.42. The company's stock had a trading volume of 487,609 shares, compared to its average volume of 278,528. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company's 50-day simple moving average is $337.11 and its 200 day simple moving average is $344.01. The firm has a market cap of $14.66 billion, a P/E ratio of 18.55, a PEG ratio of 0.26 and a beta of 0.51.

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

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be issued a $2.00 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group's dividend payout ratio (DPR) is 42.46%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company reiterated a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Janney Montgomery Scott initiated coverage on Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective for the company. Morgan Stanley upped their price objective on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Citigroup initiated coverage on Everest Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $397.14.

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.