Everest Group, Ltd. (NYSE:EG) Shares Purchased by Boston Partners

Key Points

• Boston Partners increased its stake in Everest Group, Ltd. by 3.3% during the first quarter, owning 696,765 shares valued at approximately $253.15 million.
• Several large investors, including Vanguard Group and Vulcan Value Partners, have also raised their holdings, with institutional investors owning a total of 92.64% of the stock.
• Analysts have varying price targets for Everest Group, with Barclays increasing its target to $398.00 and a consensus rating of "Moderate Buy," indicating a positive outlook for the stock.

Boston Partners grew its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 696,765 shares of the company's stock after purchasing an additional 22,432 shares during the quarter. Boston Partners owned 1.64% of Everest Group worth $253,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EG. Vanguard Group Inc. lifted its stake in shares of Everest Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock worth $2,026,428,000 after acquiring an additional 17,346 shares in the last quarter. Vulcan Value Partners LLC increased its holdings in 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 buying an additional 350,019 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Everest Group by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 572,132 shares of the company's stock valued at $207,368,000 after buying an additional 13,138 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Everest Group by 11.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock valued at $200,911,000 after buying an additional 56,410 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Everest Group by 14.7% in the fourth quarter. Northern Trust Corp now owns 419,481 shares of the company's stock valued at $152,045,000 after buying an additional 53,849 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Stock Performance

Shares of NYSE:EG traded down $5.01 during trading on Friday, hitting $332.11. 355,989 shares of the company traded hands, compared to its average volume of 322,334. The stock has a market capitalization of $13.93 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 0.25 and a beta of 0.50. The business's fifty day moving average is $335.06 and its 200-day moving average is $343.55. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (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 the consensus estimate of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%. The business's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $16.85 earnings per share. As a group, equities analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

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 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 payout ratio is currently 42.46%.

Analyst Ratings Changes

Several analysts recently weighed in on EG shares. Citigroup started coverage on Everest Group in a report on Wednesday. They issued a "neutral" rating and a $362.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. UBS Group lowered their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Finally, Janney Montgomery Scott started coverage on Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $397.14.

Insider Activity

In other Everest Group news, CEO James Allan Williamson acquired 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average cost 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 in the company, valued at approximately $8,658,115.46. This represents a 4.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

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.