Oppenheimer & Co. Inc. Sells 2,924 Shares of Everest Group, Ltd. (NYSE:EG)

Oppenheimer & Co. Inc. reduced its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 17.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,147 shares of the company's stock after selling 2,924 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Everest Group were worth $5,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Everest Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after purchasing an additional 43,793 shares in the last quarter. Norges Bank purchased a new position in shares of Everest Group in the fourth quarter valued at $488,588,000. Franklin Resources Inc. grew its position in shares of Everest Group by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after purchasing an additional 4,544 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Everest Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after purchasing an additional 8,321 shares in the last quarter. Finally, Vulcan Value Partners LLC grew its position in shares of Everest Group by 279.1% in the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after purchasing an additional 720,572 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the purchase, the chief executive officer now directly owns 25,618 shares in the company, valued at approximately $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 available through this link. Corporate insiders own 1.10% of the company's stock.

Everest Group Price Performance

EG stock traded down $2.53 during mid-day trading on Friday, hitting $336.89. 499,493 shares of the stock were exchanged, compared to its average volume of 402,360. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35. The business has a fifty day moving average price of $343.90 and a 200 day moving average price of $350.08. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.26 and a beta of 0.53.

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 (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the firm earned $16.32 EPS. The company's revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.37%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is currently 41.15%.

Wall Street Analyst Weigh In

EG has been the subject of several recent research reports. UBS Group reduced their price target on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company reduced their price target on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods reduced their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Raymond James Financial restated a "strong-buy" rating and set a $410.00 target price (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Finally, Morgan Stanley boosted their target price on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Six equities 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 price target of $400.33.

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.