Everest Group, Ltd. $EG Shares Bought by Altrinsic Global Advisors LLC

Key Points

• Altrinsic Global Advisors LLC increased its stake in Everest Group, Ltd. by 10.7%, making it the firm's second-largest position, now owning approximately 1.61% of the company valued at $248 million.
• CEO James Allan Williamson bought 1,000 shares of Everest Group stock, increasing his ownership to 25,618 shares, valued at around $8.66 million, with a purchase price of $337.97 per share.
• Everest Group announced a quarterly dividend of $2.00 per share, with an annualized yield of 2.3% and a payout ratio of 42.46%.

Altrinsic Global Advisors LLC boosted its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 682,979 shares of the company's stock after acquiring an additional 66,041 shares during the period. Everest Group comprises 12.3% of Altrinsic Global Advisors LLC's portfolio, making the stock its 2nd largest holding. Altrinsic Global Advisors LLC owned approximately 1.61% of Everest Group worth $248,147,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of EG. Nuveen LLC purchased a new stake in Everest Group in the 1st quarter valued at approximately $137,418,000. Vulcan Value Partners LLC lifted its position in shares of Everest Group by 35.8% in the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock valued at $482,832,000 after acquiring an additional 350,019 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Everest Group by 14,518.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock valued at $68,882,000 after acquiring an additional 188,740 shares during the last quarter. GAMMA Investing LLC increased its position in Everest Group by 31,899.6% during the 1st quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock worth $63,364,000 after purchasing an additional 173,853 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Everest Group in the 4th quarter valued at about $55,352,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Trading Up 0.7%

EG traded up $2.28 on Friday, reaching $342.16. 220,932 shares of the company's stock were exchanged, compared to its average volume of 396,306. The company's 50 day moving average is $335.93 and its 200-day moving average is $343.47. The company has a market cap of $14.35 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.25 and a beta of 0.50. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $15.14 by $2.22. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company's revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $16.85 EPS. Equities analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Everest Group's dividend payout ratio is 42.46%.

Insider Transactions at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average price of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EG shares. Wells Fargo & Company reiterated a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 target price (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Janney Montgomery Scott initiated coverage on shares of Everest Group in a research note on Friday, June 20th. They issued a "buy" rating and a $425.00 target price for the company. Barclays lifted their target price on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Evercore ISI lowered their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Everest Group currently has an average rating of "Moderate Buy" and an average target price of $397.14.

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.