Charles Schwab Investment Management Inc. Grows Holdings in Everest Group, Ltd. (NYSE:EG)

Charles Schwab Investment Management Inc. grew its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 385,989 shares of the company's stock after buying an additional 5,894 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.91% of Everest Group worth $140,241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vulcan Value Partners LLC lifted its stake in Everest Group by 279.1% during the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock worth $354,768,000 after purchasing an additional 720,572 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Everest Group by 14,518.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock valued at $68,882,000 after buying an additional 188,740 shares during the last quarter. GAMMA Investing LLC lifted its stake in Everest Group by 31,899.6% in the first quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock valued at $63,364,000 after buying an additional 173,853 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Everest Group in the fourth quarter valued at $55,352,000. Finally, Raymond James Financial Inc. bought a new stake in Everest Group in the fourth quarter valued at $48,290,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EG. Raymond James Financial reissued a "strong-buy" rating and set a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Morgan Stanley raised their price target on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Janney Montgomery Scott initiated coverage on Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 price target on the stock. Wells Fargo & Company reaffirmed a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods lifted their target price on Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $402.50.

Everest Group Trading Up 0.5%

Shares of NYSE EG opened at $329.78 on Monday. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The firm has a market capitalization of $13.83 billion, a PE ratio of 17.50, a PEG ratio of 0.24 and a beta of 0.50. 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 business has a 50-day moving average price of $336.54 and a two-hundred day moving average price of $344.51.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data 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 return on equity of 5.89% and a net margin of 4.56%. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company posted $16.85 EPS. The business's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 28th. Everest Group's payout ratio is currently 42.46%.

Insider Activity

In other news, CEO James Allan Williamson purchased 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer directly owned 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

About Everest Group

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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