United Services Automobile Association Purchases 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 position in Everest Group, Ltd. (NYSE:EG - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 960 shares of the company's stock, valued at approximately $348,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Everest Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock worth $2,026,428,000 after purchasing an additional 17,346 shares during the last quarter. Vulcan Value Partners LLC grew its position in Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock worth $482,832,000 after purchasing an additional 350,019 shares during the last quarter. Boston Partners grew its position in Everest Group by 3.3% in the 1st quarter. Boston Partners now owns 696,765 shares of the company's stock worth $253,150,000 after purchasing an additional 22,432 shares during the last quarter. Altrinsic Global Advisors LLC grew its position in Everest Group by 10.7% in the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company's stock worth $248,147,000 after purchasing an additional 66,041 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Everest Group by 11.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock worth $200,911,000 after purchasing an additional 56,410 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of EG stock traded up $0.98 during trading hours on Friday, reaching $349.42. 487,609 shares of the company were exchanged, compared to its average volume of 285,109. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 0.26 and a beta of 0.51. The stock's fifty day moving average is $337.11 and its two-hundred day moving average is $343.98. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last posted 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 business 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%. Everest Group's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $16.85 earnings per share. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EG shares. 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 target price on the stock. Cantor Fitzgerald raised shares of Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. Barclays upped their target price on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Keefe, Bruyette & Woods upped 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 given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $397.14.

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.