Envestnet Asset Management Inc. Boosts Holdings in Everest Group, Ltd. (NYSE:EG)

Envestnet Asset Management Inc. raised its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,718 shares of the company's stock after buying an additional 18,780 shares during the period. Envestnet Asset Management Inc. owned about 0.36% of Everest Group worth $62,753,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new stake in shares of Everest Group in the 4th quarter worth $29,000. Tsfg LLC purchased a new stake in Everest Group in the first quarter worth about $33,000. Optiver Holding B.V. bought a new position in shares of Everest Group in the fourth quarter worth about $51,000. Bruce G. Allen Investments LLC lifted its position in shares of Everest Group by 79.1% during the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock valued at $56,000 after buying an additional 68 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Everest Group by 43.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after acquiring an additional 64 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EG. Janney Montgomery Scott started coverage on shares of 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 lifted their target price on shares of Everest Group from $361.00 to $362.00 and gave the company an "equal weight" rating in a research note on Thursday. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. UBS Group lowered their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley increased their target price on 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $400.83.

Insider Activity at Everest Group

In other news, CEO James Allan Williamson acquired 1,000 shares of Everest Group 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 directly 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 acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company's stock.

Everest Group Trading Down 0.4%

Shares of NYSE EG opened at $339.18 on Friday. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year 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. The business's 50 day moving average is $341.09 and its two-hundred day moving average is $348.85. The stock has a market capitalization of $14.43 billion, a P/E ratio of 17.45, a PEG ratio of 0.27 and a beta of 0.51.

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

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a $2.00 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.36%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

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.

Want to see what other hedge funds are holding EG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everest Group, Ltd. (NYSE:EG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.