Gulf International Bank UK Ltd Decreases Stock Position in Everest Group, Ltd. $EG

Key Points

• Gulf International Bank UK Ltd has reduced its stake in Everest Group, Ltd. by 33.7%, selling 1,140 shares during the first quarter, leaving it with 2,245 shares valued at approximately $815,000.
• Various hedge funds and institutional investors are actively buying and selling shares of Everest Group, with a significant 92.64% of the company's stock currently owned by these entities.
• Everest Group has announced a quarterly dividend of $2.00 per share, translating to an annualized payout of $8.00 and a dividend yield of 2.4%.

Gulf International Bank UK Ltd cut its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 33.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,245 shares of the company's stock after selling 1,140 shares during the quarter. Gulf International Bank UK Ltd's holdings in Everest Group were worth $815,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EG. Truist Financial Corp grew its position in shares of Everest Group by 16.9% in the first quarter. Truist Financial Corp now owns 108,596 shares of the company's stock valued at $39,456,000 after purchasing an additional 15,660 shares in the last quarter. Fifth Third Bancorp boosted its stake in Everest Group by 18.1% during the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock worth $418,000 after buying an additional 176 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Everest Group by 12.2% during the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company's stock worth $62,753,000 after buying an additional 18,780 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in Everest Group by 14.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company's stock valued at $3,586,000 after buying an additional 1,235 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Everest Group by 127.3% in the 1st quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock worth $2,123,000 after acquiring an additional 3,272 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Trading Up 1.6%

NYSE EG traded up $5.3250 on Wednesday, reaching $343.1150. The stock had a trading volume of 305,193 shares, compared to its average volume of 402,320. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 0.25 and a beta of 0.50. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The stock has a fifty day moving average price of $334.92 and a two-hundred day moving average price of $343.34.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 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 analyst estimates of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The company's quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $16.85 earnings per share. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. Everest Group's dividend payout ratio is 42.46%.

Insider Activity

In other Everest Group news, CEO James Allan Williamson acquired 1,000 shares of the 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 completion of the purchase, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on EG. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Morgan Stanley lifted their target price on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Citigroup assumed coverage on shares of Everest Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 target price on the stock. Cantor Fitzgerald upgraded shares of Everest Group to a "hold" rating in a report on Wednesday, August 13th. Finally, UBS Group decreased 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $397.14.

Everest Group Company 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.