Everest Group, Ltd. $EG Shares Purchased by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP increased its holdings in Everest Group, Ltd. by 8.2%, now owning 116,158 shares which represent about 1.2% of its total investments.
• CEO James Allan Williamson purchased 1,000 shares of Everest Group at an average price of $337.97, increasing his ownership by 4.06%.
• Everest Group announced a quarterly dividend of $2.00 per share, with an annualized yield of 2.3% and a dividend payout ratio of 42.46%.

Systematic Financial Management LP boosted its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 116,158 shares of the company's stock after acquiring an additional 8,839 shares during the quarter. Everest Group accounts for 1.2% of Systematic Financial Management LP's portfolio, making the stock its 15th biggest holding. Systematic Financial Management LP owned 0.27% of Everest Group worth $42,204,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Sunbelt Securities Inc. bought a new position in Everest Group during the fourth quarter valued at $29,000. SVB Wealth LLC bought a new stake in Everest Group during the 1st quarter valued at $30,000. Tsfg LLC acquired a new stake in shares of Everest Group in the 1st quarter worth $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group in the 1st quarter worth $34,000. Finally, Optiver Holding B.V. purchased a new position in Everest Group in the 4th quarter worth $51,000. Institutional investors own 92.64% of the company's stock.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson acquired 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average cost of $337.97 per share, with a total value of $337,970.00. Following the purchase, the chief executive officer directly owned 25,618 shares in the company, valued at approximately $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 through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EG. Wells Fargo & Company reiterated a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Evercore ISI reduced their price objective on 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. Morgan Stanley lifted their price target on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Janney Montgomery Scott started coverage on Everest Group in a research note on Friday, June 20th. They issued a "buy" rating and a $425.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Everest Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.14.

Everest Group Stock Performance

Shares of EG traded up $4.85 during mid-day trading on Wednesday, hitting $343.57. 252,107 shares of the company's stock were exchanged, compared to its average volume of 398,435. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The firm has a market capitalization of $14.41 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.25 and a beta of 0.50. The business's 50 day moving average is $335.58 and its two-hundred day moving average is $343.43. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share 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 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 quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $16.85 earnings per share. On average, equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

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

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.