Royal Bank of Canada Grows Stock Position in Everest Group, Ltd. (NYSE:EG)

Royal Bank of Canada lifted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 26.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,183 shares of the company's stock after acquiring an additional 22,989 shares during the quarter. Royal Bank of Canada owned 0.26% of Everest Group worth $39,937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Everest Group in the fourth quarter valued at approximately $31,000. Optiver Holding B.V. purchased a new stake in shares of Everest Group during the 4th quarter valued at $51,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Everest Group by 19.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock valued at $71,000 after purchasing an additional 32 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company's stock worth $71,000 after purchasing an additional 64 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Everest Group by 43.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock worth $76,000 after buying an additional 64 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EG shares. Evercore ISI lowered their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods cut their price target on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley upped their price target on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Raymond James reiterated a "strong-buy" rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price objective 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. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $398.09.

Insider Activity

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

Everest Group Price Performance

Everest Group stock traded up $7.47 during trading hours on Tuesday, hitting $343.41. The stock had a trading volume of 169,582 shares, compared to its average volume of 383,751. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $14.61 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The stock's fifty day moving average is $349.48 and its two-hundred day moving average is $356.06.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results 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). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company posted $16.32 EPS. As a group, analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be given a $2.00 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.33%. Everest Group's dividend payout ratio is currently 41.15%.

Everest Group 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.