MetLife Investment Management LLC Grows Position in Everest Group, Ltd. $EG

Key Points

• MetLife Investment Management LLC increased its stake in Everest Group, Ltd. by 92.0% in the first quarter, owning approximately 0.05% of the company worth $8,151,000.
• Several institutional investors also boosted their positions in Everest Group, with Stifel Financial Corp significantly increasing its stake by 317.3% in the 4th quarter.
• Everest Group announced a quarterly dividend of $2.00 per share, yielding 2.4%, with the dividend to be paid on September 19th.

MetLife Investment Management LLC increased its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 92.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,435 shares of the company's stock after purchasing an additional 10,749 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of Everest Group worth $8,151,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in EG. Stifel Financial Corp lifted its stake in shares of Everest Group by 317.3% in the 4th quarter. Stifel Financial Corp now owns 18,141 shares of the company's stock valued at $6,575,000 after purchasing an additional 13,794 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Everest Group by 9.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 108,269 shares of the company's stock valued at $39,244,000 after purchasing an additional 9,475 shares during the period. Voya Investment Management LLC lifted its stake in shares of Everest Group by 7.8% in the 4th quarter. Voya Investment Management LLC now owns 18,895 shares of the company's stock valued at $6,849,000 after purchasing an additional 1,361 shares during the period. Two Sigma Securities LLC lifted its stake in shares of Everest Group by 577.2% in the 4th quarter. Two Sigma Securities LLC now owns 772 shares of the company's stock valued at $280,000 after purchasing an additional 658 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Everest Group by 35.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 952 shares of the company's stock valued at $345,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on EG. Morgan Stanley raised their target price 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. Raymond James Financial reaffirmed a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods raised their price objective on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Janney Montgomery Scott began coverage on Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Finally, Cantor Fitzgerald raised Everest Group to a "hold" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $397.14.

Insider Buying and Selling

In related news, CEO James Allan Williamson bought 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the purchase, the chief executive officer owned 25,618 shares in the company, valued at approximately $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Everest Group Trading Down 0.7%

Everest Group stock opened at $338.94 on Wednesday. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The business's fifty day moving average is $335.58 and its 200 day moving average is $343.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $14.22 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.25 and a beta of 0.50.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the prior year, the business earned $16.85 EPS. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be issued a $2.00 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.4%. Everest Group's dividend payout ratio (DPR) is currently 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.

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