Everest Group, Ltd. (NYSE:EG) Stake Boosted by Equitable Trust Co.

Key Points

• Equitable Trust Co. significantly increased its stake in Everest Group, Ltd. by 200.2% in Q1, owning 51,029 shares worth $18.54 million.
• CEO James Allan Williamson purchased 1,000 shares at $337.97 each, increasing his ownership by 4.06% to a total of 25,618 shares valued at approximately $8.66 million.
• Everest Group had a net margin of 4.88% and reported $4.26 billion in revenue for the last quarter, surpassing analyst estimates.

Equitable Trust Co. raised its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 200.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,029 shares of the company's stock after acquiring an additional 34,032 shares during the quarter. Everest Group accounts for about 1.0% of Equitable Trust Co.'s holdings, making the stock its 22nd biggest position. Equitable Trust Co. owned about 0.11% of Everest Group worth $18,540,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EG. LPL Financial LLC raised its stake in shares of Everest Group by 37.2% during the 4th quarter. LPL Financial LLC now owns 31,988 shares of the company's stock worth $11,594,000 after buying an additional 8,675 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Everest Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after buying an additional 43,793 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of Everest Group by 101.4% during the 4th quarter. EntryPoint Capital LLC now owns 1,039 shares of the company's stock worth $377,000 after buying an additional 523 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Everest Group by 54.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,385 shares of the company's stock worth $502,000 after buying an additional 489 shares during the last quarter. Finally, Korea Investment CORP raised its stake in shares of Everest Group by 121.8% during the 4th quarter. Korea Investment CORP now owns 26,948 shares of the company's stock worth $9,768,000 after buying an additional 14,800 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Activity at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of Everest Group 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 purchase, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

EG has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective 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. Janney Montgomery Scott initiated coverage on Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. UBS Group dropped their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Raymond James Financial restated 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. Finally, Evercore ISI lowered their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $400.83.

Everest Group Stock Up 0.4%

Everest Group stock traded up $1.29 during midday trading on Tuesday, hitting $332.64. 93,587 shares of the company were exchanged, compared to its average volume of 407,814. The company's fifty day moving average price is $338.40 and its 200-day moving average price is $346.40. The company has a market cap 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 current ratio of 0.35 and a quick ratio of 0.35. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The business had revenue of $4.26 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $16.32 earnings per share. On average, research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is currently 41.15%.

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.