Praxis Investment Management Inc. Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

Praxis Investment Management Inc. boosted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 58.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,490 shares of the company's stock after purchasing an additional 1,650 shares during the period. Praxis Investment Management Inc.'s holdings in Everest Group were worth $1,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of Everest Group by 61.5% during the fourth quarter. Van ECK Associates Corp now owns 680 shares of the company's stock valued at $246,000 after acquiring an additional 259 shares in the last quarter. CIBC Asset Management Inc raised its position in Everest Group by 4.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,568 shares of the company's stock valued at $2,381,000 after purchasing an additional 259 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Everest Group by 146.1% in the 4th quarter. D.A. Davidson & CO. now owns 2,018 shares of the company's stock worth $732,000 after buying an additional 1,198 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of Everest Group during the 4th quarter worth $325,000. Finally, New York State Common Retirement Fund increased its stake in shares of Everest Group by 27.1% during the fourth quarter. New York State Common Retirement Fund now owns 38,543 shares of the company's stock valued at $13,970,000 after buying an additional 8,212 shares during the period. Institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

Everest Group stock traded down $0.83 during mid-day trading on Tuesday, reaching $340.99. 478,087 shares of the company traded hands, compared to its average volume of 400,213. The firm's fifty day moving average is $344.80 and its two-hundred day moving average is $350.70. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.26 and a beta of 0.53. 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 0.25, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The firm had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The business's revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $16.32 EPS. On average, equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.35%. Everest Group's dividend payout ratio is currently 41.15%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

EG has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Janney Montgomery Scott started coverage on Everest Group in a research report on Friday. They set a "buy" rating and a $425.00 target price on the stock. Wells Fargo & Company cut their price target on Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $410.00 price target (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $400.33.

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.