United Services Automobile Association Buys Shares of 960 Everest Group, Ltd. $EG

Key Points

• The United Services Automobile Association has invested approximately $348,000 in Everest Group, Ltd. by acquiring 960 shares during the first quarter.
• Everest Group reported strong quarterly earnings with $17.36 EPS, exceeding the consensus estimate of $15.14, and revenue of $4.49 billion, up 6.2% year-over-year.
• The firm has announced a $2.00 quarterly dividend, with an annualized yield of 2.3%, set to be paid on September 19th.

United Services Automobile Association purchased a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 960 shares of the company's stock, valued at approximately $348,000.

Other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in shares of Everest Group in the 4th quarter valued at about $29,000. SVB Wealth LLC bought a new position in Everest Group during the 1st quarter worth $30,000. Tsfg LLC bought a new position in shares of Everest Group in the first quarter worth $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group in the first quarter valued at $34,000. Finally, WPG Advisers LLC purchased a new stake in shares of Everest Group during the first quarter valued at $37,000. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Price Performance

Shares of EG traded up $4.18 during trading hours on Wednesday, reaching $334.81. The stock had a trading volume of 53,633 shares, compared to its average volume of 391,773. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The stock has a market capitalization of $14.04 billion, a PE ratio of 17.78, a PEG ratio of 0.25 and a beta of 0.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The company's 50-day moving average is $337.02 and its two-hundred day moving average is $343.79.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping the consensus estimate 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 company's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $16.85 EPS. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. Everest Group's dividend payout ratio is presently 42.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays increased their price objective on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Wolfe Research raised Everest Group to a "strong sell" rating in a report on Tuesday. Wells Fargo & Company restated a "mixed" rating on shares of Everest Group in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their target price on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Janney Montgomery Scott assumed coverage on Everest Group in a research note on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $389.80.

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.