Prudential PLC Has $2.01 Million Stake in Everest Group, Ltd. $EG

Key Points

• Prudential PLC has reduced its stake in Everest Group, Ltd. by 38.3%, owning 5,536 shares worth approximately $2.01 million after selling 3,443 shares in the first quarter.
• Everest Group reported $17.36 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations of $15.14, with revenues reaching $4.49 billion.
• The company recently announced a quarterly dividend of $2.00 per share, which translates to an annual yield of 2.4% and a payout ratio of 42.46%.

Prudential PLC reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 38.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,536 shares of the company's stock after selling 3,443 shares during the quarter. Prudential PLC's holdings in Everest Group were worth $2,011,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EG. Vulcan Value Partners LLC raised its holdings in shares of Everest Group by 279.1% during the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after buying an additional 720,572 shares during the period. Nuveen LLC purchased a new position in shares of Everest Group during the 1st quarter valued at approximately $137,418,000. Balyasny Asset Management L.P. increased its stake in shares of Everest Group by 14,518.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock worth $68,882,000 after buying an additional 188,740 shares during the last quarter. GAMMA Investing LLC raised its holdings in Everest Group by 31,899.6% in the first quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock valued at $63,364,000 after acquiring an additional 173,853 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Everest Group during the 4th quarter worth $55,352,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Everest Group

In other news, CEO James Allan Williamson acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased 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 directly owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on EG. Barclays upped their price objective on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Morgan Stanley raised their target price on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, UBS Group dropped their price target on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $397.14.

Everest Group Stock Performance

Shares of NYSE EG traded up $3.3850 during trading hours on Tuesday, hitting $335.3550. 43,366 shares of the company's stock were exchanged, compared to its average volume of 401,953. The company's 50-day moving average price is $334.89 and its 200-day moving average price is $343.37. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.25 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

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. On average, sell-side 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 declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Everest Group's dividend payout ratio is 42.46%.

About Everest Group

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.