Truist Financial Corp Boosts Holdings in Everest Group, Ltd. (NYSE:EG)

Truist Financial Corp grew its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 16.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,596 shares of the company's stock after acquiring an additional 15,660 shares during the quarter. Truist Financial Corp owned about 0.23% of Everest Group worth $39,456,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EG. Flagship Harbor Advisors LLC boosted its holdings in Everest Group by 3.7% in the first quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company's stock valued at $306,000 after acquiring an additional 30 shares during the last quarter. Legacy Advisors LLC raised its holdings in shares of Everest Group by 5.5% in the 1st quarter. Legacy Advisors LLC now owns 599 shares of the company's stock worth $218,000 after purchasing an additional 31 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Everest Group by 0.7% in the 4th 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 during the period. Vontobel Holding Ltd. lifted its stake in shares of Everest Group by 2.1% in the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company's stock valued at $647,000 after purchasing an additional 36 shares in the last quarter. Finally, Van Den Berg Management I Inc. grew its holdings in shares of Everest Group by 0.3% during the 4th quarter. Van Den Berg Management I Inc. now owns 13,462 shares of the company's stock worth $4,879,000 after purchasing an additional 40 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Everest Group

In related news, CEO James Allan Williamson bought 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the purchase, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EG. Wells Fargo & Company reduced 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 research report on Tuesday, May 6th. Morgan Stanley lifted their target price on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Janney Montgomery Scott began coverage on shares of Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price target for the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Finally, Barclays reduced their price objective on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $400.33.

Everest Group Trading Up 1.0%

Shares of EG opened at $337.48 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The stock has a 50-day moving average price of $342.38 and a 200 day moving average price of $349.41. The company has a market capitalization of $14.35 billion, a P/E ratio of 17.36, a P/E/G ratio of 0.26 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). The business had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $16.32 earnings per share. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.37%. The ex-dividend date was Wednesday, May 28th. 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.

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