Edgestream Partners L.P. Sells 5,778 Shares of Everest Group, Ltd. (NYSE:EG)

Edgestream Partners L.P. lessened its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 81.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,331 shares of the company's stock after selling 5,778 shares during the quarter. Edgestream Partners L.P.'s holdings in Everest Group were worth $484,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. New York State Common Retirement Fund raised its holdings in shares of Everest Group by 16.0% in the 1st quarter. New York State Common Retirement Fund now owns 44,703 shares of the company's stock worth $16,242,000 after purchasing an additional 6,160 shares during the period. Xponance Inc. raised its holdings in shares of Everest Group by 0.9% in the 1st quarter. Xponance Inc. now owns 7,196 shares of the company's stock worth $2,615,000 after purchasing an additional 67 shares during the period. Croban bought a new stake in shares of Everest Group in the 1st quarter worth approximately $788,000. Capital Insight Partners LLC raised its holdings in shares of Everest Group by 5.7% in the 1st quarter. Capital Insight Partners LLC now owns 2,181 shares of the company's stock worth $792,000 after purchasing an additional 118 shares during the period. Finally, Greenleaf Trust raised its holdings in shares of Everest Group by 16.4% in the 1st quarter. Greenleaf Trust now owns 1,412 shares of the company's stock worth $513,000 after purchasing an additional 199 shares during the period. Institutional investors own 92.64% of the company's stock.

Everest Group Stock Down 0.4%

Shares of NYSE:EG opened at $332.65 on Friday. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The firm has a fifty day moving average of $339.89 and a 200 day moving average of $347.80. The firm has a market capitalization of $14.15 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35.

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

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 annualized dividend and a yield of 2.40%. Everest Group's payout ratio is 41.15%.

Analyst Ratings Changes

EG has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $376.00 to $415.00 in a report on Friday, April 11th. Raymond James Financial reissued a "strong-buy" rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Evercore ISI lowered their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley boosted their target price on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $400.83.

Insider Transactions at Everest Group

In other news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was bought 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 acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

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.

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