Donald Smith & CO. Inc. Purchases 45,749 Shares of Everest Group, Ltd. (NYSE:EG)

Key Points

• Donald Smith & CO. Inc. has increased its stake in Everest Group, Ltd. by 29.4%, acquiring a total of 201,189 shares valued at approximately $73 million, making it the firm's 25th largest position.
• Several institutional investors have also boosted their holdings in Everest Group during the first quarter, with SG Americas Securities LLC notably increasing its position by 127.3%.
• An analysts' report shows that Everest Group has received positive ratings, with a consensus target price now set at $402.50, indicating room for growth and potential investment interest.

Donald Smith & CO. Inc. raised its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 29.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,189 shares of the company's stock after buying an additional 45,749 shares during the period. Everest Group comprises approximately 1.8% of Donald Smith & CO. Inc.'s portfolio, making the stock its 25th largest position. Donald Smith & CO. Inc. owned about 0.47% of Everest Group worth $73,098,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EG. Vanguard Group Inc. boosted its holdings in shares of Everest Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock worth $2,026,428,000 after purchasing an additional 17,346 shares during the period. Vulcan Value Partners LLC boosted its holdings in shares of Everest Group by 35.8% during the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock worth $482,832,000 after purchasing an additional 350,019 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Everest Group by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 572,132 shares of the company's stock worth $207,368,000 after purchasing an additional 13,138 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Everest Group by 11.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock worth $200,911,000 after purchasing an additional 56,410 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Everest Group by 14.7% during the fourth quarter. Northern Trust Corp now owns 419,481 shares of the company's stock worth $152,045,000 after purchasing an additional 53,849 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EG shares. Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. 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 report on Monday, July 7th. Janney Montgomery Scott started coverage on shares of 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 raised their price objective 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. Finally, UBS Group lowered their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Five 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 company. According to MarketBeat.com, Everest Group currently has a consensus rating of "Moderate Buy" and an average price target of $402.50.

Everest Group Stock Up 0.2%

Shares of NYSE EG traded up $0.73 on Tuesday, reaching $331.13. 18,735 shares of the company's stock traded hands, compared to its average volume of 405,913. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The business's 50 day simple moving average is $336.12 and its two-hundred day simple moving average is $344.26. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 0.24 and a beta of 0.50. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the firm earned $16.85 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

Insider Buying and Selling

In other news, CEO James Allan Williamson acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average cost of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.