Federated Hermes Inc. boosted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 17.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,901 shares of the company's stock after buying an additional 2,031 shares during the quarter. Federated Hermes Inc.'s holdings in Everest Group were worth $5,051,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. TCTC Holdings LLC raised its stake in shares of Everest Group by 0.3% in the 1st quarter. TCTC Holdings LLC now owns 61,380 shares of the company's stock valued at $22,301,000 after purchasing an additional 185 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Everest Group by 117.9% in the 1st quarter. Foundations Investment Advisors LLC now owns 1,440 shares of the company's stock worth $523,000 after purchasing an additional 779 shares during the last quarter. Mackenzie Financial Corp grew its position in Everest Group by 5.2% in the 1st quarter. Mackenzie Financial Corp now owns 105,992 shares of the company's stock worth $38,510,000 after purchasing an additional 5,239 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Everest Group by 34.9% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 14,218 shares of the company's stock worth $5,166,000 after purchasing an additional 3,682 shares during the last quarter. Finally, Equitable Trust Co. grew its position in Everest Group by 200.2% in the 1st quarter. Equitable Trust Co. now owns 51,029 shares of the company's stock worth $18,540,000 after purchasing an additional 34,032 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.
Wall Street Analysts Forecast Growth
EG has been the subject of several research reports. Wells Fargo & Company raised their target price on Everest Group from $361.00 to $362.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Evercore ISI reduced their price objective on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Barclays lifted their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. UBS Group cut their target price on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $402.00 to $405.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $400.83.
Get Our Latest Stock Report on Everest Group
Insider Activity
In related news, CEO James Allan Williamson acquired 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.
Everest Group Stock Performance
Shares of EG opened at $331.65 on Monday. The company has a market capitalization of $14.11 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 0.25 and a beta of 0.50. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.35 and a quick ratio of 0.35. The company's fifty day moving average price is $337.88 and its 200 day moving average price is $345.74.
Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping the consensus estimate of $15.14 by $2.22. The company had revenue of $4.49 billion for 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 company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $16.85 EPS. As a group, analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.
Everest Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. Everest Group's payout ratio is presently 42.46%.
About Everest Group
(
Free Report)
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.
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Want to see what other hedge funds are holding EG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everest Group, Ltd. (NYSE:EG - Free Report).
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