1,464 Shares in Everest Group, Ltd. $EG Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC has made a new investment of approximately $532,000 in Everest Group, Ltd., purchasing 1,464 shares during the first quarter.
• Insiders, including CEO James Allan Williamson, have also recently acquired shares, with Williamson increasing his ownership by 4.06% to approximately $8.66 million in total value.
• Everest Group has recently declared a quarterly dividend of $2.00 per share, indicating a 2.4% annual yield and a payout ratio of 42.46%.

Townsquare Capital LLC purchased a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,464 shares of the company's stock, valued at approximately $532,000.

Several other institutional investors have also modified their holdings of the business. Flagship Harbor Advisors LLC grew its stake in shares of Everest Group by 3.7% during the first quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company's stock worth $306,000 after purchasing an additional 30 shares in the last quarter. Legacy Advisors LLC grew its stake in shares of Everest Group by 5.5% during the first quarter. Legacy Advisors LLC now owns 599 shares of the company's stock worth $218,000 after purchasing an additional 31 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Everest Group by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company's stock worth $1,913,000 after purchasing an additional 36 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Everest Group by 2.1% during the first quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company's stock worth $647,000 after purchasing an additional 36 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft grew its stake in shares of Everest Group by 6.6% during the first quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company's stock worth $213,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Activity at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average cost of $337.97 per share, with a total value of $337,970.00. Following the completion of the acquisition, the chief executive officer owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

Everest Group Stock Performance

Shares of NYSE:EG traded up $4.41 on Thursday, reaching $347.93. The company's stock had a trading volume of 384,958 shares, compared to its average volume of 318,546. The stock's 50-day moving average is $335.24 and its two-hundred day moving average is $343.35. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $14.59 billion, a P/E ratio of 18.47, a PEG ratio of 0.25 and a beta of 0.50.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis 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 presently 42.46%.

Analysts Set New Price Targets

A number of brokerages recently commented on EG. Citigroup began coverage on shares of Everest Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $362.00 target price for the company. Barclays boosted their target price 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. Raymond James Financial restated 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. Morgan Stanley upped 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 note on Monday, May 19th. Finally, Wells Fargo & Company restated a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Everest Group has an average rating of "Moderate Buy" and a consensus price target of $397.14.

About Everest Group

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.