Mount Lucas Management LP lowered its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,103 shares of the company's stock after selling 3,134 shares during the period. Mount Lucas Management LP's holdings in Everest Group were worth $764,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in shares of Everest Group during the 4th quarter worth approximately $29,000. Tsfg LLC purchased a new position in shares of Everest Group during the 1st quarter worth approximately $33,000. Optiver Holding B.V. purchased a new position in shares of Everest Group during the 4th quarter worth approximately $51,000. Bruce G. Allen Investments LLC boosted its position in shares of Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after purchasing an additional 68 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in shares of Everest Group in the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 92.64% of the company's stock.
Everest Group Stock Performance
Shares of NYSE EG traded up $4.67 during midday trading on Friday, hitting $336.56. 189,705 shares of the stock traded hands, compared to its average volume of 318,279. The firm has a 50-day moving average of $338.73 and a two-hundred day moving average of $346.86. The firm has a market capitalization of $14.32 billion, a P/E ratio of 17.31, a PEG ratio of 0.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30.
Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm had revenue of $4.26 billion for 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%. Everest Group's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $16.32 earnings per share. On average, equities analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.
Everest Group Announces Dividend
The business also recently disclosed 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 of this dividend was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.38%. Everest Group's dividend payout ratio (DPR) is 41.15%.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Everest Group from $361.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Morgan Stanley boosted their price target on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays boosted their price target on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Evercore ISI dropped their price target 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, UBS Group dropped their price target on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $400.83.
Check Out Our Latest Research Report on EG
Insider Activity at Everest Group
In related news, CEO James Allan Williamson acquired 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The stock was purchased at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the purchase, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.
Everest Group Profile
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Free Report)
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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