AustralianSuper Pty Ltd Acquires 36,297 Shares of Everest Group, Ltd. (NYSE:EG)

AustralianSuper Pty Ltd raised its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 75.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,290 shares of the company's stock after purchasing an additional 36,297 shares during the period. AustralianSuper Pty Ltd owned 0.18% of Everest Group worth $30,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in EG. Sunbelt Securities Inc. bought a new position in Everest Group in the fourth quarter valued at $29,000. Tsfg LLC bought a new stake in shares of Everest Group in the first quarter worth about $33,000. Optiver Holding B.V. bought a new stake in shares of Everest Group in the fourth quarter worth about $51,000. Bruce G. Allen Investments LLC lifted its holdings in Everest Group by 79.1% in the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after buying an additional 68 shares during the period. Finally, Park Square Financial Group LLC purchased a new stake in Everest Group in the fourth quarter worth about $104,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Insider Activity

In other news, CEO James Allan Williamson acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, with a total value of $337,970.00. Following the acquisition, the chief executive officer directly owned 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their target price on shares of Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Barclays boosted their price target 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. Janney Montgomery Scott began coverage on shares of Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 target price on the stock. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $400.83.

Everest Group Price Performance

Shares of EG traded down $1.35 during trading hours on Friday, reaching $332.65. The company had a trading volume of 269,573 shares, compared to its average volume of 403,021. 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 firm has a 50 day simple moving average of $339.89 and a 200-day simple moving average of $347.80. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.26 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last released 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 net margin of 4.88% and a return on equity of 5.95%. The company had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the previous year, the firm posted $16.32 earnings per share. Everest Group's revenue for the quarter was up 3.1% compared to the same quarter last year. Research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were given 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 2.40%. Everest Group's payout ratio is currently 41.15%.

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.