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

Massachusetts Financial Services Co. MA boosted its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 552,972 shares of the company's stock after buying an additional 56,410 shares during the period. Massachusetts Financial Services Co. MA owned about 1.16% of Everest Group worth $200,911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new position in Everest Group during the 4th quarter valued at about $29,000. Tsfg LLC purchased a new position in Everest Group during the 1st quarter valued at about $33,000. Optiver Holding B.V. purchased a new position in Everest Group during the 4th quarter valued at about $51,000. Bruce G. Allen Investments LLC grew its stake in Everest Group by 79.1% during the 1st 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Everest Group by 43.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Transactions at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the acquisition, the chief executive officer directly owned 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EG shares. Wells Fargo & Company set a $362.00 target price on Everest Group and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Morgan Stanley boosted 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, Raymond James Financial reissued a "strong-buy" rating and issued a $410.00 price target (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Six equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $400.83.

Everest Group Stock Performance

Everest Group stock traded up $1.07 during trading hours on Thursday, reaching $332.98. 105,321 shares of the company were exchanged, compared to its average volume of 404,131. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 17.11, a PEG 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. The stock has a 50-day moving average of $340.45 and a 200 day moving average of $348.29. 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 announced its earnings results 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%. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $16.32 EPS. As a group, research 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 announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders 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 yield of 2.40%. Everest Group's payout ratio is currently 41.15%.

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.