Principal Financial Group Inc. Has $20.03 Million Stock Holdings in Everest Group, Ltd. (NYSE:EG)

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

Other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in shares of Everest Group during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. bought a new position in Everest Group in the fourth quarter valued at approximately $31,000. Tsfg LLC bought a new position in Everest Group in the first quarter valued at approximately $33,000. Optiver Holding B.V. bought a new position in Everest Group in the fourth quarter valued at approximately $51,000. Finally, Bruce G. Allen Investments LLC boosted its stake in Everest Group by 79.1% in the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock valued at $56,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays raised their price objective on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday. Keefe, Bruyette & Woods increased their target price on Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday. Wells Fargo & Company increased their target price on Everest Group from $361.00 to $362.00 and gave the company an "equal weight" rating in a research note on Thursday. Evercore ISI cut their target price on Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Finally, UBS Group cut their target price 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $400.83.

Insider Transactions at Everest Group

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

Everest Group Stock Down 0.4%

Shares of NYSE:EG traded down $1.27 during midday trading on Friday, reaching $339.18. 294,103 shares of the company were exchanged, compared to its average volume of 404,138. 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 quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $341.27 and a two-hundred day simple moving average of $349.01. The firm has a market cap of $14.43 billion, a PE ratio of 17.45, a P/E/G ratio of 0.27 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last announced 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). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the business posted $16.32 EPS. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

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. This represents a $8.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio is presently 41.15%.

About Everest Group

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.