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

Praxis Investment Management Inc. lifted its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 58.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,490 shares of the company's stock after buying an additional 1,650 shares during the quarter. Praxis Investment Management Inc.'s holdings in Everest Group were worth $1,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Everest Group by 54.6% in the 1st quarter. Blue Trust Inc. now owns 541 shares of the company's stock worth $197,000 after purchasing an additional 191 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Everest Group by 2.3% during the 1st quarter. Johnson Investment Counsel Inc. now owns 190,646 shares of the company's stock valued at $69,267,000 after purchasing an additional 4,319 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Everest Group by 1.9% during the 1st quarter. State of Alaska Department of Revenue now owns 6,924 shares of the company's stock valued at $2,515,000 after purchasing an additional 130 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Everest Group during the 1st quarter valued at about $231,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Everest Group by 3.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,910 shares of the company's stock valued at $1,057,000 after purchasing an additional 109 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

EG traded up $3.89 during trading on Friday, reaching $336.79. 1,196,868 shares of the company traded hands, compared to its average volume of 399,879. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $14.32 billion, a P/E ratio of 17.32, a PEG ratio of 0.26 and a beta of 0.53. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The firm has a fifty day simple moving average of $345.01 and a 200 day simple moving average of $351.07.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly 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 company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $16.32 earnings per share. On average, equities analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced 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 of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.38%. Everest Group's payout ratio is 41.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EG shares. Janney Montgomery Scott assumed coverage on shares of Everest Group in a research report on Friday. They set a "buy" rating and a $425.00 price target for the company. UBS Group reduced their target price on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Barclays reduced their target price on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Evercore ISI cut their price objective on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $400.33.

Insiders Place Their Bets

In other news, CEO James Allan Williamson acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the acquisition, the chief executive officer now directly 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

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.