Vanguard Group Inc. Purchases 17,346 Shares of Everest Group, Ltd. (NYSE:EG)

Key Points

• Vanguard Group Inc. increased its stake in Everest Group to 13.11%, owning approximately 5.58 million shares worth over $2 billion.
• Everest Group's CEO, James Allan Williamson, purchased 1,000 shares at an average price of $337.97, raising his total ownership to 25,618 shares valued at over $8.6 million.
• Five analysts have rated Everest Group as a "Moderate Buy" with a consensus price target of $402.50, despite some recent decreases in target prices from various firms.

Vanguard Group Inc. raised its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,577,376 shares of the company's stock after buying an additional 17,346 shares during the period. Vanguard Group Inc. owned about 13.11% of Everest Group worth $2,026,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vulcan Value Partners LLC grew its position in Everest Group by 35.8% during the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock worth $482,832,000 after buying an additional 350,019 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Everest Group by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 572,132 shares of the company's stock valued at $207,368,000 after purchasing an additional 13,138 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Everest Group by 11.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock valued at $200,911,000 after purchasing an additional 56,410 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Everest Group by 14.7% in the 4th quarter. Northern Trust Corp now owns 419,481 shares of the company's stock valued at $152,045,000 after purchasing an additional 53,849 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in shares of Everest Group by 2.4% in the 4th quarter. Polar Capital Holdings Plc now owns 368,750 shares of the company's stock valued at $133,657,000 after purchasing an additional 8,750 shares in the last quarter. Institutional investors own 92.64% of the company's stock.

Insider Buying and Selling

In other news, CEO James Allan Williamson bought 1,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents a 4.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI dropped their price target 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. Keefe, Bruyette & Woods increased their price target on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald raised shares of Everest Group to a "hold" rating in a report on Wednesday. UBS Group reduced their target price 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. Finally, Citigroup initiated coverage on shares of Everest Group in a report on Wednesday. They set a "neutral" rating and a $362.00 target price on the stock. Seven 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. Based on data from MarketBeat, Everest Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $397.14.

Everest Group Trading Up 0.0%

Shares of EG stock traded up $0.12 during mid-day trading on Thursday, hitting $336.88. The company's stock had a trading volume of 260,821 shares, compared to its average volume of 406,079. The company's fifty day simple moving average is $335.48 and its 200-day simple moving average is $344.10. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week 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. The company has a market cap of $14.13 billion, a PE ratio of 17.88, a P/E/G ratio of 0.24 and a beta of 0.50.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data 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. Everest Group had a return on equity of 5.89% and a net margin of 4.56%. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company posted $16.85 EPS. The business's quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company 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 $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. Everest Group's payout ratio is 42.46%.

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.