Lecap Asset Management Ltd. Acquires 3,989 Shares of Everest Group, Ltd. (NYSE:EG)

Lecap Asset Management Ltd. lifted its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 143.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,775 shares of the company's stock after acquiring an additional 3,989 shares during the period. Lecap Asset Management Ltd.'s holdings in Everest Group were worth $2,462,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of Everest Group by 18.1% in the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock valued at $418,000 after acquiring an additional 176 shares in the last quarter. 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 worth $3,586,000 after purchasing an additional 1,235 shares during the period. Sowell Financial Services LLC bought a new stake in Everest Group during the first quarter worth about $231,000. SG Americas Securities LLC lifted its position in Everest Group by 127.3% during the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock worth $2,123,000 after purchasing an additional 3,272 shares during the period. Finally, 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 worth $39,789,000 after purchasing an additional 31,306 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Down 0.7%

Shares of EG traded down $2.53 during trading hours on Friday, reaching $336.89. The stock had a trading volume of 499,493 shares, compared to its average volume of 402,796. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The firm has a 50-day simple moving average of $343.90 and a 200 day simple moving average of $350.16. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 0.27 and a beta of 0.53.

Everest Group (NYSE:EG - Get Free Report) last issued its 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). 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 during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business earned $16.32 earnings per share. Everest Group's revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed 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 of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Buying and Selling at Everest Group

In related news, CEO James Allan Williamson acquired 1,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the purchase, the chief executive officer now owns 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Barclays cut their price objective on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. 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. Finally, UBS Group dropped their target price on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. 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 a consensus rating of "Moderate Buy" and an average target price of $400.33.

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.