Dupree Financial Group LLC Invests $6.14 Million in Everest Group, Ltd. (NYSE:EG)

Dupree Financial Group LLC acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,911 shares of the company's stock, valued at approximately $6,144,000. Everest Group comprises about 2.5% of Dupree Financial Group LLC's investment portfolio, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Everest Group by 12.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company's stock valued at $62,753,000 after purchasing an additional 18,780 shares during the last quarter. World Investment Advisors lifted its holdings in shares of Everest Group by 72.0% in the 1st quarter. World Investment Advisors now owns 1,827 shares of the company's stock valued at $664,000 after acquiring an additional 765 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Everest Group by 16.9% in the 1st quarter. Truist Financial Corp now owns 108,596 shares of the company's stock valued at $39,456,000 after acquiring an additional 15,660 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Everest Group by 2.5% in the 1st quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company's stock valued at $4,392,000 after acquiring an additional 273 shares during the last quarter. Finally, MBA Advisors LLC bought a new position in shares of Everest Group in the 1st quarter valued at about $443,000. Institutional investors own 92.64% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EG. UBS Group lowered their price target on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 price target (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Keefe, Bruyette & Woods lowered their price target on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley increased 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 report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $400.67.

Everest Group Trading Up 2.2%

Shares of NYSE:EG traded up $7.22 during trading on Tuesday, reaching $341.28. 70,791 shares of the company were exchanged, compared to its average volume of 401,979. The firm has a market capitalization of $14.51 billion, a PE ratio of 17.53, a P/E/G ratio of 0.26 and a beta of 0.51. The business's fifty day simple moving average is $341.96 and its 200-day simple moving average is $349.26. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The business's revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $16.32 earnings per share. On average, research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Activity at Everest Group

In other Everest Group 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

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.