UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Position in 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 boosted its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 358,168 shares of the company's stock after acquiring an additional 20,122 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.84% of Everest Group worth $130,133,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EG. Sunbelt Securities Inc. purchased a new position in shares of Everest Group in the fourth quarter valued at $29,000. SVB Wealth LLC purchased a new stake in Everest Group during the 1st quarter worth $30,000. Tsfg LLC acquired a new position in Everest Group in the 1st quarter worth $33,000. Zions Bancorporation National Association UT purchased a new position in Everest Group in the 1st quarter valued at about $34,000. Finally, WPG Advisers LLC acquired a new stake in shares of Everest Group during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a report on Wednesday, August 13th. Barclays upped their target price on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Morgan Stanley raised their price target 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, Citigroup started coverage on shares of Everest Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price target for the company. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $397.14.

Everest Group Trading Up 0.3%

Shares of NYSE EG opened at $349.42 on Friday. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 0.26 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. The stock's 50 day simple moving average is $337.11 and its 200 day simple moving average is $344.01.

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

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 3rd. Everest Group's payout ratio is 42.46%.

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.

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