State of Wyoming Sells 1,384 Shares of Everest Group, Ltd. $EG

Key Points

• The State of Wyoming significantly reduced its stake in Everest Group, Ltd. by 83.2%, now holding shares worth $101,000 after selling 1,384 shares during the first quarter.
• Insider trading activities included CEO James Allan Williamson acquiring 1,000 shares at an average price of $337.97, increasing his ownership by 4.06%.
• Everest Group reported a quarterly EPS of $17.36, exceeding analysts' expectations of $15.14, with a revenue increase of 6.2% compared to the same quarter last year.

State of Wyoming lessened its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 83.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 279 shares of the company's stock after selling 1,384 shares during the quarter. State of Wyoming's holdings in Everest Group were worth $101,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Everest Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock worth $2,026,428,000 after acquiring an additional 17,346 shares during the last quarter. Vulcan Value Partners LLC raised its stake in shares of Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock valued at $482,832,000 after acquiring an additional 350,019 shares during the period. Boston Partners raised its stake in shares of Everest Group by 3.3% in the 1st quarter. Boston Partners now owns 696,765 shares of the company's stock valued at $253,150,000 after acquiring an additional 22,432 shares during the period. Altrinsic Global Advisors LLC raised its stake in shares of Everest Group by 10.7% in the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company's stock valued at $248,147,000 after acquiring an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Everest Group by 11.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock worth $200,911,000 after buying an additional 56,410 shares during the period. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Stock Up 1.3%

NYSE:EG traded up $4.44 during mid-day trading on Thursday, reaching $344.47. The stock had a trading volume of 112,461 shares, compared to its average volume of 392,449. The business's 50 day moving average is $336.64 and its 200 day moving average is $343.91. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The stock has a market cap of $14.45 billion, a P/E ratio of 18.28, a PEG ratio of 0.25 and a beta of 0.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 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 company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the company posted $16.85 earnings per share. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict 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. Stockholders of record on Wednesday, September 3rd will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Everest Group's dividend payout ratio is currently 42.46%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. UBS Group dropped their target price on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Citigroup began coverage on shares of Everest Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 target price on the stock. Morgan Stanley raised their price objective on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Barclays raised their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.