New Age Alpha Advisors LLC Lowers Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Everest Group, Ltd. by 10.4%, leaving them with 22,050 shares, which are valued at approximately $8.01 million.
• Analysts have mixed ratings on Everest Group, with target prices adjusted downwards from various firms; however, the average rating is still a "Moderate Buy" with a target price of $401.58.
• The most recent quarterly earnings report showed that Everest Group exceeded earnings estimates, posting $17.36 EPS, beating the consensus estimate of $15.14.

New Age Alpha Advisors LLC cut its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,050 shares of the company's stock after selling 2,560 shares during the quarter. New Age Alpha Advisors LLC owned approximately 0.05% of Everest Group worth $8,011,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in Everest Group during the 4th quarter valued at $29,000. Tsfg LLC bought a new stake in Everest Group during the 1st quarter valued at $33,000. Optiver Holding B.V. bought a new stake in Everest Group during the 4th quarter valued at $51,000. Bruce G. Allen Investments LLC raised its position 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 purchasing an additional 68 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in Everest Group during the 4th quarter valued at $104,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EG has been the subject of a number of research analyst reports. UBS Group decreased their target price on Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Evercore ISI lowered their target price on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Raymond James Financial restated a "strong-buy" rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Morgan Stanley upped their target price on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company upped their target price on Everest Group from $362.00 to $371.00 and gave the stock an "equal weight" rating in a report on Monday. Six equities research 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 company. According to data from MarketBeat, Everest Group has an average rating of "Moderate Buy" and an average target price of $401.58.

Everest Group Stock Performance

Shares of EG opened at $326.24 on Tuesday. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The stock has a fifty day moving average price of $337.68 and a 200-day moving average price of $345.49. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.24. The firm has a market cap of $13.87 billion, a PE ratio of 17.32, a P/E/G ratio of 0.25 and a beta of 0.50.

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

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio is currently 42.46%.

Insider Activity at Everest Group

In other news, CEO James Allan Williamson bought 1,000 shares of Everest Group stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average price 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. The trade was a 4.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.

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