DAVENPORT & Co LLC Purchases 3,344 Shares of Everest Group, Ltd. (NYSE:EG)

DAVENPORT & Co LLC increased its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 17.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,874 shares of the company's stock after buying an additional 3,344 shares during the period. DAVENPORT & Co LLC's holdings in Everest Group were worth $8,311,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EG. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Everest Group by 1.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,669 shares of the company's stock worth $1,696,000 after buying an additional 64 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Everest Group by 2.1% during the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company's stock worth $647,000 after acquiring an additional 36 shares during the period. Amalgamated Bank boosted its position in shares of Everest Group by 1.1% during the 1st quarter. Amalgamated Bank now owns 8,488 shares of the company's stock worth $3,084,000 after acquiring an additional 95 shares in the last quarter. Wealthstar Advisors LLC increased its stake in Everest Group by 26.7% in the first quarter. Wealthstar Advisors LLC now owns 1,232 shares of the company's stock valued at $448,000 after acquiring an additional 260 shares during the last quarter. Finally, Tsfg LLC acquired a new position in Everest Group during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Trading Up 1.0%

Shares of EG traded up $3.45 during trading hours on Thursday, hitting $337.48. 295,283 shares of the stock were exchanged, compared to its average volume of 403,705. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The business has a 50-day moving average of $343.06 and a 200-day moving average of $349.67. The firm has a market capitalization of $14.35 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 0.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The business's revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $16.32 earnings per share. On average, research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a $2.00 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.37%. Everest Group's payout ratio is currently 41.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EG shares. Evercore ISI dropped their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. UBS Group lowered their price objective on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and raised their target price for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Janney Montgomery Scott began coverage on shares of Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 price target for the company. Finally, Barclays dropped their price target on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Everest Group has an average rating of "Moderate Buy" and a consensus target price of $400.33.

Insider Transactions at Everest Group

In related news, CEO James Allan Williamson acquired 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price 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 in the company, valued at $8,658,115.46. This represents a 4.06% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.