Massachusetts Financial Services Co. MA Has $200.91 Million Stock Position in Everest Group, Ltd. (NYSE:EG)

Massachusetts Financial Services Co. MA grew its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 11.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 552,972 shares of the company's stock after acquiring an additional 56,410 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.16% of Everest Group worth $200,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in Everest Group during the fourth quarter worth $29,000. Tsfg LLC acquired a new stake in shares of Everest Group during the 1st quarter worth about $33,000. Optiver Holding B.V. bought a new position in Everest Group during the 4th quarter valued at about $51,000. Bruce G. Allen Investments LLC raised its stake 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 valued at $56,000 after acquiring an additional 68 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Insider Activity at Everest Group

In related news, CEO James Allan Williamson bought 1,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were purchased at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents a 4.06% increase in their position. The acquisition 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 $1.35 during midday trading on Friday, reaching $332.65. 269,573 shares of the company were exchanged, compared to its average volume of 405,076. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51. The business has a 50-day moving average price of $339.89 and a two-hundred day moving average price of $347.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last posted 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 business had revenue of $4.26 billion during 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 business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $16.32 EPS. Equities research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were paid a $2.00 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.40%. Everest Group's payout ratio is 41.15%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. UBS Group dropped their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Wells Fargo & Company set a $362.00 target price on shares of Everest Group and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Finally, Evercore ISI lowered their price objective on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Everest Group has a consensus rating of "Moderate Buy" and an average price target of $400.83.

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.