Everest Group, Ltd. $EG Shares Sold by FCA Corp TX

Key Points

• FCA Corp TX reduced its stake in Everest Group, Ltd. by 17.2%, selling 1,801 shares during the first quarter, which left them with a total of 8,658 shares valued at $3,146,000.
• CEO James Allan Williamson purchased 1,000 shares of Everest Group at $337.97 per share, increasing his ownership to 25,618 shares, worth approximately $8.66 million.
• Everest Group reported earnings of $17.36 per share for the last quarter, exceeding analysts' expectations, along with a revenue of $4.49 billion, which was also above projected figures.

FCA Corp TX decreased its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 17.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,658 shares of the company's stock after selling 1,801 shares during the quarter. FCA Corp TX's holdings in Everest Group were worth $3,146,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EG. Flagship Harbor Advisors LLC grew its position in shares of Everest Group by 3.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company's stock worth $306,000 after buying an additional 30 shares during the last quarter. Legacy Advisors LLC grew its position in Everest Group by 5.5% during the first quarter. Legacy Advisors LLC now owns 599 shares of the company's stock valued at $218,000 after buying an additional 31 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in Everest Group by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company's stock worth $1,913,000 after acquiring an additional 36 shares during the period. Vontobel Holding Ltd. raised its position in Everest Group by 2.1% during the first quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company's stock worth $647,000 after acquiring an additional 36 shares during the period. Finally, Baader Bank Aktiengesellschaft raised its position in Everest Group by 6.6% during the first quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company's stock worth $213,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EG. Morgan Stanley upped their price objective on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Janney Montgomery Scott started coverage on shares of Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price target on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Citigroup started coverage on shares of Everest Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Everest Group has an average rating of "Moderate Buy" and an average target price of $397.14.

Everest Group Price Performance

Everest Group stock traded up $4.9060 during midday trading on Tuesday, reaching $336.8760. The company's stock had a trading volume of 60,035 shares, compared to its average volume of 402,080. The firm has a market capitalization of $14.13 billion, a PE ratio of 17.89, a P/E/G ratio of 0.25 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The stock's 50 day simple moving average is $334.89 and its 200 day simple moving average is $343.37.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.14 by $2.22. The business had revenue of $4.49 billion during 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 business's revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $16.85 EPS. On average, equities research analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

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 payout ratio is 42.46%.

Insider Activity

In other news, CEO James Allan Williamson purchased 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average price of $337.97 per share, with a total value of $337,970.00. Following the purchase, the chief executive officer directly owned 25,618 shares of the company's stock, valued at $8,658,115.46. This represents a 4.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

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.