UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 20,122 Shares of Everest Group, Ltd. $EG

Key Points

• UBS Asset Management increased its stake in Everest Group, Ltd. by 6.0% during Q1, now owning approximately 358,168 shares valued at $130.1 million.
• Everest Group reported a quarterly EPS of $17.36, exceeding analysts' expectations, along with revenues of $4.49 billion, a 6.2% increase year-over-year.
• The company declared a quarterly dividend of $2.00 per share, representing an annualized yield of 2.3%, with the payment scheduled for September 19th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 358,168 shares of the company's stock after buying an additional 20,122 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.84% of Everest Group worth $130,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp boosted its holdings in Everest Group by 16.9% in the first quarter. Truist Financial Corp now owns 108,596 shares of the company's stock valued at $39,456,000 after acquiring an additional 15,660 shares during the last quarter. Fifth Third Bancorp increased its holdings in Everest Group by 18.1% in the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock valued at $418,000 after buying an additional 176 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Everest Group by 12.2% in the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company's stock valued at $62,753,000 after buying an additional 18,780 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Everest Group by 14.3% during the first quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company's stock valued at $3,586,000 after purchasing an additional 1,235 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Everest Group by 127.3% during the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock valued at $2,123,000 after purchasing an additional 3,272 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

Shares of NYSE:EG traded up $1.21 on Thursday, reaching $334.86. 91,879 shares of the company's stock were exchanged, compared to its average volume of 391,997. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a fifty day moving average of $336.89 and a 200-day moving average of $343.73. The company has a market capitalization of $14.04 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.24 and a beta of 0.51. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, topping analysts' consensus estimates of $15.14 by $2.22. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $16.85 EPS. On average, research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 yield of 2.4%. The ex-dividend date is Wednesday, September 3rd. Everest Group's dividend payout ratio (DPR) is presently 42.46%.

Analysts Set New Price Targets

EG has been the subject of a number of research analyst reports. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research report on Wednesday, August 13th. Wolfe Research raised shares of Everest Group to a "strong sell" rating in a research note on Tuesday. Citigroup started coverage on shares of Everest Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $362.00 price target for the company. Barclays upped their price target on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, 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 note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $389.80.

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.