Everest Group, Ltd. $EG Shares Acquired by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Everest Group by 15.3%, owning approximately 0.11% of the company valued at $17.24 million.
• Analysts have mixed ratings for Everest Group, with a consensus rating of "Moderate Buy." Recent price targets range from $362.00 to $416.00.
• Everest Group announced a quarterly dividend of $2.00 per share, representing an annual yield of 2.4% with a payout ratio of 42.46%.

Fuller & Thaler Asset Management Inc. lifted its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 15.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,453 shares of the company's stock after purchasing an additional 6,293 shares during the period. Fuller & Thaler Asset Management Inc. owned about 0.11% of Everest Group worth $17,241,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Truist Financial Corp lifted its position in shares of Everest Group by 16.9% during the first quarter. Truist Financial Corp now owns 108,596 shares of the company's stock worth $39,456,000 after purchasing an additional 15,660 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Everest Group by 18.1% during the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock worth $418,000 after purchasing an additional 176 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Everest Group by 12.2% during the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company's stock worth $62,753,000 after purchasing an additional 18,780 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in Everest Group by 14.3% in the first quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company's stock valued at $3,586,000 after acquiring an additional 1,235 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Everest Group by 127.3% in the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock valued at $2,123,000 after acquiring an additional 3,272 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EG shares. Barclays upped their price target on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a report on Monday, July 7th. UBS Group cut their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Finally, Citigroup started coverage on shares of Everest Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Everest Group currently has a consensus rating of "Moderate Buy" and an average price target of $397.14.

Everest Group Stock Up 1.8%

Everest Group stock opened at $337.7990 on Wednesday. The company has a 50-day simple moving average of $334.92 and a 200-day simple moving average of $343.34. The firm has a market capitalization of $14.17 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.25 and a beta of 0.50. 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, Ltd. has a one year low of $320.00 and a one year high of $407.30.

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

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. Everest Group's dividend payout ratio is currently 42.46%.

Insider Activity at Everest Group

In other news, CEO James Allan Williamson purchased 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

About Everest Group

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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