Everest Group, Ltd. (NYSE:EG) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management has reduced its stake in Everest Group, Ltd. by 3.4% in Q1, now owning approximately 0.87% of the company valued at $151.77 million.
• In a recent earnings report, Everest Group surpassed estimates with an EPS of $17.36 and revenue of $4.49 billion, reflecting a year-over-year revenue growth of 6.2%.
• The company announced a quarterly dividend of $2.00, providing an annualized dividend yield of 2.4% with a payout ratio of 42.46%.

LSV Asset Management cut its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 417,715 shares of the company's stock after selling 14,802 shares during the period. LSV Asset Management owned about 0.87% of Everest Group worth $151,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Sunbelt Securities Inc. bought a new stake in shares of Everest Group in the fourth quarter worth about $29,000. Tsfg LLC bought a new stake in shares of Everest Group in the first quarter worth about $33,000. Optiver Holding B.V. bought a new stake in shares of Everest Group in the fourth quarter worth about $51,000. Bruce G. Allen Investments LLC increased its holdings in shares of Everest Group by 79.1% in the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after purchasing an additional 68 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new stake in shares of Everest Group in the fourth quarter worth about $104,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the transaction, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

Everest Group Stock Performance

Shares of EG stock traded down $5.10 during mid-day trading on Monday, reaching $326.24. The stock had a trading volume of 506,209 shares, compared to its average volume of 320,600. The business's fifty day moving average is $337.68 and its 200-day moving average is $345.49. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.24. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.25 and a beta of 0.50. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. The business had revenue of $4.49 billion for 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 revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $16.85 earnings per share. On average, research analysts forecast 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. Shareholders of record on Wednesday, May 28th were paid 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 2.5%. Everest Group's dividend payout ratio (DPR) is presently 42.46%.

Analyst Upgrades and Downgrades

EG has been the topic of several research reports. UBS Group reduced 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. Barclays upped their price objective on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Evercore ISI decreased their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. Finally, 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 research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $401.58.

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.