National Bank of Canada FI Buys 14,524 Shares of Everest Group, Ltd. (NYSE:EG)

Key Points

• National Bank of Canada FI increased its stake in Everest Group, Ltd. by 68.5% during Q1, owning approximately $12.98 million worth of shares after acquiring 14,524 additional shares.
• Multiple institutional investors significantly boosted their positions in Everest Group, with Vulcan Value Partners LLC increasing its stake by 279.1% and Balyasny Asset Management by 14,518.5% in the fourth quarter.
• Everest Group announced an earnings per share of $17.36 for the last quarter, exceeding consensus estimates and showing a 6.2% increase in revenue year-over-year.

National Bank of Canada FI boosted its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 68.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,728 shares of the company's stock after buying an additional 14,524 shares during the period. National Bank of Canada FI owned approximately 0.08% of Everest Group worth $12,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of EG. Vanguard Group Inc. grew its stake in Everest Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock valued at $2,026,428,000 after purchasing an additional 17,346 shares in the last quarter. Vulcan Value Partners LLC boosted its stake in shares of Everest Group by 35.8% during the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock worth $482,832,000 after acquiring an additional 350,019 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Everest Group by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 572,132 shares of the company's stock worth $207,368,000 after acquiring an additional 13,138 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Everest Group by 11.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock worth $200,911,000 after acquiring an additional 56,410 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Everest Group by 14.7% during the 4th quarter. Northern Trust Corp now owns 419,481 shares of the company's stock worth $152,045,000 after acquiring an additional 53,849 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Allan Williamson purchased 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company's stock.

Everest Group Trading Up 0.0%

EG traded up $0.12 during mid-day trading on Thursday, reaching $336.88. The stock had a trading volume of 260,821 shares, compared to its average volume of 406,079. The stock has a market capitalization of $14.13 billion, a P/E ratio of 17.88, a P/E/G ratio of 0.24 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm's fifty day simple moving average is $335.48 and its two-hundred day simple moving average is $344.10. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30.

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

Everest Group Dividend Announcement

The company 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 $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. Everest Group's payout ratio is 42.46%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays upped 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 restated a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. Morgan Stanley increased 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. UBS Group cut their price target on Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $410.00 target price (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Seven 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 company's stock. According to data from MarketBeat.com, Everest Group presently has an average rating of "Moderate Buy" and a consensus target price of $397.14.

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.