Lifeworks Advisors LLC Cuts Stake in Everest Group, Ltd. (NYSE:EG)

Lifeworks Advisors LLC trimmed its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 75.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,121 shares of the company's stock after selling 12,838 shares during the quarter. Lifeworks Advisors LLC's holdings in Everest Group were worth $1,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp grew its holdings 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 worth $39,456,000 after purchasing an additional 15,660 shares during the last quarter. Fifth Third Bancorp lifted its position in Everest Group by 18.1% during the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock valued at $418,000 after buying an additional 176 shares during the period. Envestnet Asset Management Inc. lifted its position in Everest Group by 12.2% during the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company's stock valued at $62,753,000 after buying an additional 18,780 shares during the period. Wedge Capital Management L L P NC lifted its position in Everest Group by 14.3% during the first 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 during the period. Finally, SG Americas Securities LLC raised its position 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 purchasing an additional 3,272 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on EG. UBS Group lowered their price target on Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and upped their target price for the company from $376.00 to $415.00 in a report on Friday, April 11th. Morgan Stanley boosted their price objective 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. Janney Montgomery Scott assumed coverage on Everest Group in a research note on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price target on Everest Group from $402.00 to $405.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Everest Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $400.83.

Everest Group Trading Up 1.4%

NYSE:EG traded up $4.67 during midday trading on Friday, hitting $336.56. 189,705 shares of the company traded hands, compared to its average volume of 318,279. The firm's fifty day moving average is $338.96 and its 200-day moving average is $347.09. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The firm has a market capitalization of $14.32 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.26 and a beta of 0.51. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG - Get Free Report) last released its 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). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The business had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the previous year, the business earned $16.32 EPS. The business's revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.38%. Everest Group's payout ratio is 41.15%.

Insiders Place Their Bets

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of Everest Group stock in a transaction on Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the purchase, the chief executive officer directly owned 25,618 shares in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

Everest Group 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.