MBB Public Markets I LLC Acquires Shares of 901 Everest Group, Ltd. $EG

Key Points

• MBB Public Markets I LLC has acquired a new position in Everest Group, Ltd. by purchasing 901 shares valued at approximately $327,000 during the first quarter.
• Everest Group reported earnings of $17.36 per share for the last quarter, surpassing the consensus estimate by $2.22, with a year-over-year revenue increase of 6.2%.
• The company declared a quarterly dividend of $2.00 per share, reflecting an annualized yield of 2.4%, with a dividend payout ratio of 42.46%.

MBB Public Markets I LLC acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 901 shares of the company's stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EG. Nuveen LLC bought a new stake in Everest Group during the 1st quarter worth approximately $137,418,000. Vulcan Value Partners LLC increased its stake in shares of Everest Group by 35.8% in the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock worth $482,832,000 after purchasing an additional 350,019 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Everest Group by 31,899.6% during the 1st quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock valued at $63,364,000 after purchasing an additional 173,853 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Everest Group during the 4th quarter valued at $55,352,000. Finally, Perpetual Ltd purchased a new position in shares of Everest Group during the 1st quarter valued at $37,919,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EG shares. Barclays increased their price target on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Janney Montgomery Scott assumed coverage on shares of Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Finally, UBS Group reduced their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $397.14.

Everest Group Price Performance

NYSE EG traded up $0.98 during trading on Friday, hitting $349.42. 487,609 shares of the stock traded hands, compared to its average volume of 285,109. The company has a market capitalization of $14.65 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51. The firm has a 50-day simple moving average of $337.11 and a 200-day simple moving average of $343.98. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. 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 issued its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.14 by $2.22. The business had revenue of $4.49 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $16.85 EPS. As a group, analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group's dividend payout ratio (DPR) is 42.46%.

About Everest Group

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.