Everest Group, Ltd. $EG Shares Acquired by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its holdings in Everest Group, Ltd. by 68.4%, acquiring an additional 1,383 shares during the first quarter, bringing its total to 3,405 shares valued at approximately $1.24 million.
• Everest Group reported a quarterly EPS of $17.36, surpassing analysts' expectations of $15.14, with revenues of $4.49 billion, reflecting a 6.2% year-over-year increase.
• The company declared a quarterly dividend of $2.00, resulting in an annualized dividend yield of 2.3%, with a payout ratio of 42.46%.

Graham Capital Management L.P. increased its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 68.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,405 shares of the company's stock after acquiring an additional 1,383 shares during the quarter. Graham Capital Management L.P.'s holdings in Everest Group were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its position in shares of Everest Group by 4.6% in the fourth quarter. Ameriprise Financial Inc. now owns 255,365 shares of the company's stock worth $92,555,000 after buying an additional 11,122 shares in the last quarter. Captrust Financial Advisors boosted its position in Everest Group by 11.3% during the 4th quarter. Captrust Financial Advisors now owns 2,588 shares of the company's stock valued at $938,000 after acquiring an additional 262 shares in the last quarter. Cornerstone Select Advisors LLC bought a new stake in Everest Group during the 4th quarter valued at $451,000. Colonial Trust Co SC lifted its holdings in shares of Everest Group by 141.7% during the 4th quarter. Colonial Trust Co SC now owns 597 shares of the company's stock valued at $216,000 after purchasing an additional 350 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in Everest Group by 67.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 92,745 shares of the company's stock worth $33,616,000 after acquiring an additional 37,303 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

Shares of EG stock traded down $2.33 during trading hours on Monday, reaching $337.67. 148,143 shares of the company traded hands, compared to its average volume of 394,242. The firm has a 50-day moving average price of $336.54 and a 200 day moving average price of $343.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a market cap of $14.16 billion, a P/E ratio of 17.94, a P/E/G ratio of 0.25 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company posted $16.85 EPS. The company's revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 3rd. Everest Group's dividend payout ratio (DPR) is 42.46%.

Insider Buying and Selling

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the purchase, the chief executive officer directly owned 25,618 shares in the company, valued at $8,658,115.46. The trade was 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 at this link. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Barclays boosted their target price on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Citigroup initiated coverage on shares of Everest Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $362.00 target price for the company. Finally, UBS Group dropped their target price 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. One research 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 company's stock. According to MarketBeat, Everest Group presently has a consensus rating of "Moderate Buy" and an average price target of $397.14.

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.