KLP Kapitalforvaltning AS Buys 13,400 Shares of Everest Group, Ltd. (NYSE:EG)

KLP Kapitalforvaltning AS raised its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 91.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,041 shares of the company's stock after purchasing an additional 13,400 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.06% of Everest Group worth $10,188,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EG. LPL Financial LLC grew its stake in shares of Everest Group by 37.2% during the fourth quarter. LPL Financial LLC now owns 31,988 shares of the company's stock worth $11,594,000 after buying an additional 8,675 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after buying an additional 43,793 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of Everest Group by 101.4% during the fourth quarter. EntryPoint Capital LLC now owns 1,039 shares of the company's stock worth $377,000 after buying an additional 523 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Everest Group by 54.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,385 shares of the company's stock worth $502,000 after buying an additional 489 shares during the last quarter. Finally, Korea Investment CORP grew its stake in shares of Everest Group by 121.8% during the fourth quarter. Korea Investment CORP now owns 26,948 shares of the company's stock worth $9,768,000 after buying an additional 14,800 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EG. Evercore ISI decreased their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Raymond James Financial reaffirmed a "strong-buy" rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. UBS Group decreased their target price on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Barclays boosted their target price on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Everest Group from $402.00 to $405.00 and gave the stock an "outperform" rating in a research note 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $400.83.

Everest Group Trading Down 1.3%

EG traded down $4.28 during trading on Monday, reaching $332.58. 27,177 shares of the stock traded hands, compared to its average volume of 408,817. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $14.14 billion, a PE ratio of 17.12, a P/E/G ratio of 0.26 and a beta of 0.51. The stock's 50-day moving average is $338.73 and its 200 day moving average is $346.56. 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 released its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. Everest Group's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $16.32 EPS. Equities analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.41%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Activity

In related news, CEO James Allan Williamson acquired 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer directly owned 25,618 shares of the company's stock, 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 SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

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.