Everest Group, Ltd. (NYSE:EG) Shares Purchased by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC increased its holdings in Everest Group, Ltd. by 117.9%, owning 1,440 shares valued at $523,000 as per its recent SEC filing.
• Everest Group reported a quarterly EPS of $17.36, exceeding estimates and showing a 6.2% revenue growth year-over-year, totaling $4.49 billion.
• The company announced a quarterly dividend of $2.00 per share, with an annual yield of 2.4% and a payout ratio of 42.46%.

Foundations Investment Advisors LLC lifted its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 117.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,440 shares of the company's stock after acquiring an additional 779 shares during the quarter. Foundations Investment Advisors LLC's holdings in Everest Group were worth $523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new stake in Everest Group in the fourth quarter valued at approximately $29,000. Tsfg LLC acquired a new stake in Everest Group in the first quarter valued at approximately $33,000. Optiver Holding B.V. acquired a new stake in Everest Group in the fourth quarter valued at approximately $51,000. Bruce G. Allen Investments LLC boosted its stake in Everest Group by 79.1% in the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock valued at $56,000 after acquiring an additional 68 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in Everest Group in the fourth quarter valued at approximately $104,000. 92.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EG shares. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 price target (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Barclays raised their price target on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Morgan Stanley raised their price target on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. UBS Group decreased their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $402.00 to $405.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Everest Group presently has an average rating of "Moderate Buy" and an average price target of $401.58.

Insider Activity

In related news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer directly owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Everest Group Stock Performance

EG traded up $2.40 on Tuesday, reaching $328.44. The stock had a trading volume of 228,439 shares, compared to its average volume of 411,007. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.24. The business's 50-day moving average price is $337.68 and its two-hundred day moving average price is $345.49. The company has a market cap of $13.97 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 0.25 and a beta of 0.50.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the business earned $16.85 earnings per share. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently announced 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 was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. Everest Group's dividend payout ratio (DPR) is 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.