ProShare Advisors LLC Grows Stock Holdings in Everest Group, Ltd. (NYSE:EG)

ProShare Advisors LLC lifted its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,288 shares of the company's stock after acquiring an additional 1,465 shares during the quarter. ProShare Advisors LLC's holdings in Everest Group were worth $4,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in EG. Vanguard Group Inc. boosted its position in shares of Everest Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after buying an additional 43,793 shares during the period. Norges Bank purchased a new position in Everest Group in the 4th quarter worth approximately $488,588,000. Franklin Resources Inc. grew its position in Everest Group by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after acquiring an additional 4,544 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Everest Group by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after purchasing an additional 8,321 shares during the period. Finally, Vulcan Value Partners LLC raised its stake in shares of Everest Group by 279.1% during the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after purchasing an additional 720,572 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the sale, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on EG. Evercore ISI lowered their price target 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. Wells Fargo & Company lowered their target price on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. UBS Group cut their price target on Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Raymond James restated a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, Morgan Stanley lifted their price objective on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Everest Group presently has an average rating of "Moderate Buy" and a consensus target price of $398.09.

Everest Group Price Performance

Shares of EG opened at $347.40 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The stock has a 50 day moving average of $351.37 and a 200-day moving average of $356.78. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company earned $16.32 EPS. Everest Group's revenue was up 3.1% compared to the same quarter last year. As a group, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.30%. Everest Group's payout ratio is currently 41.15%.

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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