Citigroup Inc. Has $17.25 Million Position in Everest Group, Ltd. (NYSE:EG)

Citigroup Inc. lifted its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 36.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 47,463 shares of the company's stock after buying an additional 12,725 shares during the quarter. Citigroup Inc. owned approximately 0.11% of Everest Group worth $17,245,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Everest Group by 13.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 78,859 shares of the company's stock valued at $28,652,000 after buying an additional 9,402 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Everest Group by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 385,989 shares of the company's stock valued at $140,241,000 after buying an additional 5,894 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in Everest Group during the 1st quarter valued at about $403,000. Vanguard Group Inc. increased its stake in Everest Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock valued at $2,026,428,000 after buying an additional 17,346 shares during the period. Finally, Advyzon Investment Management LLC acquired a new position in Everest Group during the 1st quarter valued at about $303,000. 92.64% of the stock is currently owned by institutional investors.

Insider Activity at Everest Group

In related news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer owned 25,618 shares of the company's stock, valued at $8,658,115.46. The trade was a 4.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on EG shares. Janney Montgomery Scott initiated coverage on shares of Everest Group in a research note on Friday, June 20th. They set a "buy" rating and a $425.00 target price on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Evercore ISI lowered their price objective on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley lifted their price objective on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $397.14.

Everest Group Stock Down 1.5%

NYSE EG traded down $5.01 during trading on Friday, reaching $332.11. The company's stock had a trading volume of 355,989 shares, compared to its average volume of 322,334. 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 stock has a market capitalization of $13.93 billion, a PE ratio of 17.63, a PEG ratio of 0.25 and a beta of 0.50. The business has a 50-day moving average price of $335.06 and a 200-day moving average price of $343.55. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS 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 company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the firm posted $16.85 earnings per share. The company's quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be given a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group's dividend payout ratio (DPR) is currently 42.46%.

Everest Group 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.