Everest Group, Ltd. $EG Shares Bought by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC increased its stake in Everest Group, Ltd. by 684.6% in the first quarter, resulting in ownership of 11,118 shares valued at approximately $4,040,000.
• Everest Group recently reported quarterly earnings of $17.36 EPS, exceeding analyst expectations and indicating a 6.2% increase in revenue year-over-year.
• Everest Group announced a quarterly dividend of $2.00 per share, representing a 2.3% dividend yield, with stockholders of record set to receive it on September 19th.

Great Lakes Advisors LLC grew its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 684.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,118 shares of the company's stock after buying an additional 9,701 shares during the period. Great Lakes Advisors LLC's holdings in Everest Group were worth $4,040,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EG. Nuveen LLC acquired a new stake in Everest Group during the 1st quarter worth $137,418,000. Vulcan Value Partners LLC boosted its stake in Everest Group by 35.8% during the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock worth $482,832,000 after purchasing an additional 350,019 shares during the period. GAMMA Investing LLC boosted its stake 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 during the period. Point72 Asset Management L.P. acquired a new stake in Everest Group during the 4th quarter worth $55,352,000. Finally, Perpetual Ltd acquired a new stake in Everest Group during the 1st quarter worth $37,919,000. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Price Performance

Shares of EG traded down $3.46 during trading hours on Monday, reaching $345.92. The company had a trading volume of 69,908 shares, compared to its average volume of 392,297. The firm has a 50 day simple moving average of $337.11 and a 200-day simple moving average of $343.98. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 0.26 and a beta of 0.51. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. The business 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 business's revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $16.85 EPS. Research analysts expect 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. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, September 3rd. Everest Group's dividend payout ratio (DPR) is 42.46%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EG shares. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald upgraded shares of Everest Group to a "hold" rating in a research report on Wednesday, August 13th. Barclays upped their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Janney Montgomery Scott initiated coverage on shares of Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Finally, UBS Group cut their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. One 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. According to data from MarketBeat.com, Everest Group has an average rating of "Moderate Buy" and a consensus target price of $397.14.

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.