Rhumbline Advisers Buys 6,295 Shares of Everest Group, Ltd. (NYSE:EG)

Rhumbline Advisers raised its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,192 shares of the company's stock after purchasing an additional 6,295 shares during the quarter. Rhumbline Advisers owned about 0.19% of Everest Group worth $29,863,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

EG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley raised their target price on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company cut their price target on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Raymond James reaffirmed a "strong-buy" rating and issued a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, Barclays lowered their price objective on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $398.09.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at $4,428,175.77. This represents a 10.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Everest Group Stock Up 0.7%

EG stock traded up $2.40 during midday trading on Friday, reaching $346.22. The company had a trading volume of 186,081 shares, compared to its average volume of 389,093. The company has a 50 day moving average of $346.97 and a two-hundred day moving average of $354.90. The company has a market capitalization of $14.73 billion, a P/E ratio of 11.02, a PEG ratio of 0.24 and a beta of 0.53. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. 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 (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share 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 analyst estimates of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The company's revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $16.32 earnings per share. On average, equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Wednesday, May 28th. 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.