Everest Group, Ltd. (NYSE:EG) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 23.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,697 shares of the company's stock after selling 9,018 shares during the period. QRG Capital Management Inc. owned about 0.06% of Everest Group worth $10,790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wedge Capital Management L L P NC lifted its position in Everest Group by 14.3% during the first quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company's stock valued at $3,586,000 after buying an additional 1,235 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Everest Group by 39.9% during the fourth quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company's stock valued at $39,789,000 after buying an additional 31,306 shares in the last quarter. Merit Financial Group LLC acquired a new position in Everest Group during the first quarter valued at approximately $512,000. Commonwealth Equity Services LLC lifted its position in Everest Group by 25.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company's stock valued at $4,369,000 after buying an additional 2,438 shares in the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in Everest Group by 108.5% during the fourth quarter. Brandywine Global Investment Management LLC now owns 12,423 shares of the company's stock valued at $4,503,000 after buying an additional 6,466 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Up 1.3%

Shares of NYSE:EG opened at $338.88 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $346.05 and a 200 day simple moving average of $352.22. The firm has a market cap of $14.41 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 0.24 and a beta of 0.53. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30.

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 analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The firm's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $16.32 EPS. On average, equities research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.36%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Buying and Selling

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was purchased at an average price of $337.97 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EG shares. Keefe, Bruyette & Woods reduced their price target on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Raymond James reiterated a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Evercore ISI dropped their price objective on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price objective on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $398.09.

Everest Group 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.

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