OMERS ADMINISTRATION Corp Has $2.33 Million Stake in Everest Group, Ltd. $EG

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Everest Group, Ltd. by 18.5% in the first quarter, owning 6,407 shares valued at $2,328,000.
• CEO James Allan Williamson purchased 1,000 shares of Everest Group stock at an average price of $337.97, increasing his holdings to 25,618 shares valued at approximately $8.66 million.
• Everest Group reported $17.36 EPS for the last quarter, exceeding analysts' expectations, with revenue reaching $4.49 billion, marking a 6.2% year-over-year increase.

OMERS ADMINISTRATION Corp lifted its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 18.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,407 shares of the company's stock after purchasing an additional 998 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Everest Group were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Everest Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock worth $2,026,428,000 after purchasing an additional 17,346 shares in the last quarter. Vulcan Value Partners LLC lifted its position 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 buying an additional 350,019 shares during the period. Boston Partners lifted its position in shares of Everest Group by 3.3% during the 1st quarter. Boston Partners now owns 696,765 shares of the company's stock worth $253,150,000 after buying an additional 22,432 shares during the period. Altrinsic Global Advisors LLC lifted its position in shares of Everest Group by 10.7% during the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company's stock worth $248,147,000 after buying an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position 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 buying an additional 56,410 shares during the period. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Activity at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $337.97 per share, with a total value of $337,970.00. Following the completion of the purchase, the chief executive officer owned 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Everest Group Trading Down 0.8%

Shares of Everest Group stock traded down $2.80 during trading on Thursday, reaching $345.73. 151,697 shares of the company were exchanged, compared to its average volume of 395,752. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The business has a 50-day moving average price of $336.36 and a 200-day moving average price of $343.76. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 0.25 and a beta of 0.51.

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, topping analysts' consensus estimates of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the previous year, the firm earned $16.85 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate 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 will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. Everest Group's payout ratio is 42.46%.

Analyst Upgrades and Downgrades

Several research firms recently commented on EG. Keefe, Bruyette & Woods raised their target price on Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research report on Wednesday, August 13th. 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 target price for the company. Barclays raised their target price on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Wells Fargo & Company reiterated a "mixed" rating on shares of Everest Group in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.14.

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.