Everest Group, Ltd. (NYSE:EG) Shares Sold by Berger Financial Group Inc

Key Points

• Berger Financial Group Inc significantly reduced its stake in Everest Group by 95.2%, now holding only 616 shares worth approximately $224,000.
• CEO James Allan Williamson purchased 1,000 shares of the company's stock at $337.97 each, increasing his ownership stake by 4.06%.
• Everest Group reported a 6.2% increase in revenue year-over-year, with earnings per share of $17.36, exceeding analysts' estimates by $2.22.

Berger Financial Group Inc cut its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 95.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 616 shares of the company's stock after selling 12,265 shares during the period. Berger Financial Group Inc's holdings in Everest Group were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new position in shares of Everest Group in the 4th quarter valued at $29,000. Tsfg LLC purchased a new position in Everest Group during the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT purchased a new position in Everest Group during the 1st quarter worth approximately $34,000. Optiver Holding B.V. purchased a new position in Everest Group during the 4th quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC grew its stake in Everest Group by 79.1% during the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after buying an additional 68 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Performance

Shares of EG stock traded down $2.96 during trading on Friday, reaching $334.17. 105,781 shares of the company's stock were exchanged, compared to its average volume of 404,115. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm's fifty day moving average price is $335.35 and its 200-day moving average price is $343.85. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The stock has a market capitalization of $14.01 billion, a PE ratio of 17.73, a PEG ratio of 0.25 and a beta of 0.50.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. Everest Group's dividend payout ratio is currently 42.46%.

Insiders Place Their Bets

In other news, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer directly owned 25,618 shares of the company's stock, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on EG shares. UBS Group lowered their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Raymond James Financial reissued a "strong-buy" rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Cantor Fitzgerald raised shares of Everest Group to a "hold" rating in a research report on Wednesday. Barclays raised their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Citigroup started coverage on shares of Everest Group in a research report on Wednesday. They set a "neutral" rating and a $362.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.