Rafferty Asset Management LLC Sells 1,083 Shares of Everest Group, Ltd. $EG

Key Points

• Rafferty Asset Management LLC reduced its stake in Everest Group, Ltd. by 7.1%, selling 1,083 shares to end the first quarter with a total of 14,091 shares valued at approximately $5.12 million.
• CEO James Allan Williamson purchased 1,000 shares of Everest Group at an average price of $337.97 per share, increasing his ownership by 4.06% to a total of 25,618 shares worth about $8.66 million.
• Analysts have set an average target price of $397.14 for Everest Group, with ratings ranging from a "Strong Buy" to "Hold" based on recent research reports.

Rafferty Asset Management LLC trimmed its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,091 shares of the company's stock after selling 1,083 shares during the quarter. Rafferty Asset Management LLC's holdings in Everest Group were worth $5,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Everest Group in the 1st quarter worth about $137,418,000. Vulcan Value Partners LLC boosted its position in shares of Everest Group by 35.8% during the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock valued at $482,832,000 after purchasing an additional 350,019 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Everest Group by 14,518.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock worth $68,882,000 after buying an additional 188,740 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Everest Group by 31,899.6% in the first quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock worth $63,364,000 after buying an additional 173,853 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Everest Group during the fourth quarter worth approximately $55,352,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO James Allan Williamson purchased 1,000 shares of Everest Group stock in a transaction on Wednesday, June 11th. The stock was purchased 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 in the company, valued at $8,658,115.46. The trade was a 4.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Everest Group Trading Down 0.1%

Shares of EG stock traded down $0.25 on Wednesday, reaching $343.10. The company had a trading volume of 54,733 shares, compared to its average volume of 394,483. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market cap of $14.39 billion, a PE ratio of 18.21, a PEG ratio of 0.25 and a beta of 0.51. The company has a 50-day moving average of $336.12 and a 200-day moving average of $343.72. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the firm earned $16.85 EPS. Everest Group's quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be given a $2.00 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. Everest Group's payout ratio is currently 42.46%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EG shares. Morgan Stanley raised their price objective on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Citigroup initiated coverage on shares of Everest Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $362.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Barclays lifted their price target on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company restated a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $397.14.

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.