Nuance Investments LLC Decreases Position in Everest Group, Ltd. (NYSE:EG)

Key Points

• Nuance Investments LLC has reduced its stake in Everest Group, Ltd. by 17.9%, owning 16,404 shares valued at approximately $5.96 million after selling 3,578 shares.
• Analysts have mixed ratings on Everest Group, with a consensus price target of $402.50 and various upgrades and downgrades from firms like Raymond James and Morgan Stanley.
• Everest Group reported earnings of $17.36 per share, exceeding expectations, along with a quarterly dividend payment of $2.00, representing an annualized yield of 2.4%.

Nuance Investments LLC cut its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 17.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,404 shares of the company's stock after selling 3,578 shares during the quarter. Nuance Investments LLC's holdings in Everest Group were worth $5,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Flagship Harbor Advisors LLC lifted its stake in Everest Group by 3.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company's stock valued at $306,000 after buying an additional 30 shares in the last quarter. Legacy Advisors LLC grew its position in shares of Everest Group by 5.5% in the first quarter. Legacy Advisors LLC now owns 599 shares of the company's stock valued at $218,000 after purchasing an additional 31 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Everest Group by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company's stock valued at $1,913,000 after purchasing an additional 36 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Everest Group by 2.1% in the first quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company's stock valued at $647,000 after purchasing an additional 36 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of Everest Group by 6.6% in the first quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company's stock valued at $213,000 after purchasing an additional 37 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EG. Raymond James Financial restated a "strong-buy" rating and set a $410.00 price target (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Keefe, Bruyette & Woods raised their price target on shares of 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 began coverage on shares of Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 price target for the company. Morgan Stanley raised their price target on shares of 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 restated a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Five 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $402.50.

Everest Group Stock Up 0.2%

Everest Group stock opened at $330.38 on Tuesday. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. 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 has a 50 day moving average price of $336.12 and a 200 day moving average price of $344.26. The company has a market capitalization of $13.86 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.24 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 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 firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the firm earned $16.85 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a $2.00 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. Everest Group's payout ratio is 42.46%.

Insider Activity at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the purchase, the chief executive officer directly owned 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Everest Group Company 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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