Impact Partnership Wealth LLC Purchases New Stake in Everest Group, Ltd. (NYSE:EG)

Impact Partnership Wealth LLC purchased a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 963 shares of the company's stock, valued at approximately $350,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Everest Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after purchasing an additional 43,793 shares during the period. Norges Bank bought a new stake in shares of Everest Group during the fourth quarter valued at approximately $488,588,000. Franklin Resources Inc. boosted its holdings in Everest Group by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock worth $464,533,000 after acquiring an additional 4,544 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Everest Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock worth $424,344,000 after acquiring an additional 8,321 shares in the last quarter. Finally, Vulcan Value Partners LLC lifted its holdings in shares of Everest Group by 279.1% during the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after purchasing an additional 720,572 shares in the last quarter. Institutional investors own 92.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EG shares. Wells Fargo & Company upped their price objective on Everest Group from $361.00 to $362.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Evercore ISI decreased their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Raymond James Financial restated a "strong-buy" rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Finally, UBS Group cut their price target on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Six research 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 stock. Based on data from MarketBeat, Everest Group has a consensus rating of "Moderate Buy" and a consensus target price of $400.83.

Insider Buying and Selling at Everest Group

In other news, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were purchased at an average cost of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer owned 25,618 shares of the company's stock, valued at $8,658,115.46. The trade was a 4.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Everest Group Price Performance

Shares of Everest Group stock traded up $6.61 on Tuesday, hitting $336.58. The company had a trading volume of 140,394 shares, compared to its average volume of 401,657. The company has a market cap of $14.31 billion, a PE ratio of 17.34, a PEG ratio of 0.26 and a beta of 0.51. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35. The business has a 50-day simple moving average of $339.89 and a 200-day simple moving average of $347.69.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $16.32 EPS. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

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.