UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 29,891 Shares of Everest Group, Ltd. (NYSE:EG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 338,046 shares of the company's stock after acquiring an additional 29,891 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.79% of Everest Group worth $122,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EG. Voloridge Investment Management LLC raised its holdings in shares of Everest Group by 103.4% during the 4th quarter. Voloridge Investment Management LLC now owns 122,872 shares of the company's stock valued at $44,536,000 after buying an additional 62,459 shares in the last quarter. Worldquant Millennium Advisors LLC raised its position in Everest Group by 109.0% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 2,077 shares of the company's stock worth $753,000 after purchasing an additional 1,083 shares during the period. Zimmer Partners LP raised its position in Everest Group by 8.9% in the 4th quarter. Zimmer Partners LP now owns 137,500 shares of the company's stock worth $49,838,000 after purchasing an additional 11,276 shares during the period. Vident Advisory LLC purchased a new position in Everest Group in the 4th quarter worth $3,246,000. Finally, Sone Capital Management LLC purchased a new position in Everest Group in the 4th quarter worth $9,844,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the business'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 sale, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Everest Group Trading Up 1.7%

Shares of EG stock traded up $5.77 during mid-day trading on Thursday, reaching $341.36. The stock had a trading volume of 234,208 shares, compared to its average volume of 384,795. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week 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. The stock's 50-day moving average price is $348.89 and its two-hundred day moving average price is $355.83. The firm has a market capitalization of $14.52 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The company had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the prior year, the firm earned $16.32 EPS. Everest Group's quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Wednesday, May 28th. Everest Group's dividend payout ratio is currently 41.15%.

Analysts Set New Price Targets

A number of brokerages recently commented on EG. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Raymond James reiterated a "strong-buy" rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Wells Fargo & Company decreased their target price 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. Finally, UBS Group decreased their target price on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $398.09.

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.