Foster & Motley Inc. Sells 1,011 Shares of Everest Group, Ltd. (NYSE:EG)

Key Points

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Foster & Motley Inc. lessened its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 19.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,066 shares of the company's stock after selling 1,011 shares during the period. Foster & Motley Inc.'s holdings in Everest Group were worth $1,477,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Baader Bank Aktiengesellschaft lifted its position in shares of Everest Group by 6.6% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company's stock valued at $213,000 after buying an additional 37 shares during the last quarter. Bayforest Capital Ltd lifted its position in shares of Everest Group by 1,946.0% during the 1st quarter. Bayforest Capital Ltd now owns 1,780 shares of the company's stock valued at $647,000 after buying an additional 1,693 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Everest Group during the 1st quarter valued at $826,000. Banque Cantonale Vaudoise purchased a new stake in Everest Group during the 1st quarter worth about $1,689,000. Finally, Federated Hermes Inc. lifted its holdings in Everest Group by 17.1% during the 1st quarter. Federated Hermes Inc. now owns 13,901 shares of the company's stock worth $5,051,000 after purchasing an additional 2,031 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Raymond James Financial reissued a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Morgan Stanley increased their price objective on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and increased their price objective for the stock from $376.00 to $415.00 in a report on Friday, April 11th. UBS Group dropped their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Finally, Barclays increased their price objective on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Six analysts have rated the stock with a hold rating, five 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 an average price target of $400.83.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson acquired 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the transaction, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This represents 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 available at the SEC website. Corporate insiders own 1.10% of the company's stock.

Everest Group Trading Down 1.2%

Everest Group stock traded down $4.15 during trading hours on Friday, reaching $331.65. The company had a trading volume of 318,747 shares, compared to its average volume of 304,663. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.35 and a quick ratio of 0.35. The company has a 50-day moving average price of $337.88 and a 200 day moving average price of $345.92. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 0.26 and a beta of 0.50. 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping analysts' consensus estimates of $15.14 by $2.22. The business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%. The business's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $16.85 EPS. Equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is currently 42.46%.

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.