Principal Financial Group Inc. Increases Position in Everest Group, Ltd. (NYSE:EG)

Principal Financial Group Inc. boosted its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,123 shares of the company's stock after acquiring an additional 4,021 shares during the period. Principal Financial Group Inc. owned 0.12% of Everest Group worth $20,028,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC boosted its holdings 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 purchasing an additional 30 shares during the last quarter. Legacy Advisors LLC boosted its holdings in Everest Group by 5.5% in the 1st quarter. Legacy Advisors LLC now owns 599 shares of the company's stock valued at $218,000 after purchasing an additional 31 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Everest Group by 0.7% in the 4th 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. boosted its holdings in Everest Group by 2.1% in the 1st 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, Van Den Berg Management I Inc. boosted its holdings in Everest Group by 0.3% in the 4th quarter. Van Den Berg Management I Inc. now owns 13,462 shares of the company's stock valued at $4,879,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

NYSE:EG opened at $340.31 on Friday. 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 stock has a market capitalization of $14.47 billion, a P/E ratio of 17.51, a PEG ratio of 0.27 and a beta of 0.51. The company has a 50 day moving average price of $341.27 and a 200 day moving average price of $349.01. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30.

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

Everest Group Dividend Announcement

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

Insider Buying and Selling

In other Everest Group 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 price of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EG shares. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $376.00 to $415.00 in a report on Friday, April 11th. Evercore ISI decreased their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of Everest Group from $361.00 to $362.00 and gave the company an "equal weight" rating in a report on Thursday. Raymond James Financial reiterated a "strong-buy" rating and issued a $410.00 target price (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Finally, UBS Group decreased their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday. Six investment 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 company's stock. According to data from MarketBeat, Everest Group has a consensus rating of "Moderate Buy" and a consensus price target of $400.83.

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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