Capital Fund Management S.A. Sells 8,235 Shares of Everest Group, Ltd. $EG

Key Points

• Capital Fund Management S.A. has reduced its stake in Everest Group, Ltd. by 31.8%, selling 8,235 shares to hold 17,677 shares valued at approximately $6.42 million.
• Analysts have set new price targets for Everest Group, with Raymond James initiating a price target of $410.00, while Barclays increased theirs to $398.00.
• Everest Group announced a $2.00 quarterly dividend, resulting in an annualized dividend of $8.00, translating to a yield of 2.3% for shareholders of record on September 3rd.

Capital Fund Management S.A. lowered its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 31.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,677 shares of the company's stock after selling 8,235 shares during the quarter. Capital Fund Management S.A.'s holdings in Everest Group were worth $6,423,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EG. Sunbelt Securities Inc. purchased a new position in Everest Group during the fourth quarter valued at approximately $29,000. Tsfg LLC purchased a new position in shares of Everest Group in the first quarter worth $33,000. Zions Bancorporation National Association UT purchased a new position in shares of Everest Group in the first quarter worth $34,000. Optiver Holding B.V. purchased a new position in shares of Everest Group in the fourth quarter worth $51,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of 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 buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Trading Up 1.5%

EG stock traded up $5.13 during mid-day trading on Wednesday, reaching $343.85. 154,360 shares of the stock traded hands, compared to its average volume of 397,744. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The stock has a market capitalization of $14.42 billion, a PE ratio of 18.25, a PEG ratio of 0.25 and a beta of 0.50. The business has a 50-day moving average price of $335.58 and a two-hundred day moving average price of $343.43.

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 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 business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the previous year, the business posted $16.85 earnings per share. The business's revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.3%. Everest Group's dividend payout ratio is presently 42.46%.

Analyst Ratings Changes

Several research firms have recently commented on EG. Morgan Stanley boosted 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. Cantor Fitzgerald raised shares of Everest Group to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Barclays boosted their target price on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Evercore ISI reduced their price target on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $397.14.

Insider Activity at Everest Group

In related news, CEO James Allan Williamson purchased 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the acquisition, the chief executive officer owned 25,618 shares in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

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.