Kestra Advisory Services LLC Has $1.71 Million Stock Position in Everest Group, Ltd. $EG

Key Points

• Kestra Advisory Services LLC boosted its stake in Everest Group, Ltd. by 21.5%, acquiring an additional 829 shares to reach a total of 4,692 shares, valued at approximately $1.7 million.
• A variety of institutional investors have significantly increased their holdings in Everest Group, with notable purchases including Nuveen LLC's acquisition valued at $137.4 million.
• Everest Group reported a quarterly earnings per share of $17.36, exceeding estimates, along with a revenue of $4.49 billion for the quarter, marking a 6.2% year-over-year increase.

Kestra Advisory Services LLC boosted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 21.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,692 shares of the company's stock after buying an additional 829 shares during the quarter. Kestra Advisory Services LLC's holdings in Everest Group were worth $1,705,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EG shares. Barclays upped their price objective on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. UBS Group decreased their target price on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Janney Montgomery Scott initiated coverage on Everest Group in a research note on Friday, June 20th. They issued a "buy" rating and a $425.00 price target on the stock. Morgan Stanley increased their price target on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $397.14.

Insider Activity

In related news, CEO James Allan Williamson bought 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The shares were bought at an average cost of $337.97 per share, with a total value of $337,970.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.10% of the company's stock.

Everest Group Stock Performance

EG stock traded down $1.83 during trading hours on Thursday, hitting $346.71. 137,915 shares of the stock were exchanged, compared to its average volume of 395,670. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $14.54 billion, a P/E ratio of 18.41, a P/E/G ratio of 0.25 and a beta of 0.51. The company has a 50-day simple moving average of $336.36 and a two-hundred day simple moving average of $343.76. 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 posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, topping the consensus estimate of $15.14 by $2.22. The firm 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 company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $16.85 EPS. On average, analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

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.