Vest Financial LLC Purchases 71,371 Shares of Everest Group, Ltd. (NYSE:EG)

Vest Financial LLC grew its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 1,041.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,221 shares of the company's stock after acquiring an additional 71,371 shares during the quarter. Vest Financial LLC owned 0.16% of Everest Group worth $28,420,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EG. Norges Bank purchased a new position in shares of Everest Group in the fourth quarter worth $488,588,000. Vulcan Value Partners LLC raised its stake in shares of Everest Group by 279.1% in the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock worth $354,768,000 after purchasing an additional 720,572 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Everest Group by 11,756.0% in the fourth quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock worth $100,987,000 after purchasing an additional 276,266 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Everest Group by 14,518.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock worth $68,882,000 after purchasing an additional 188,740 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Everest Group by 31,899.6% in the first quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock worth $63,364,000 after purchasing an additional 173,853 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Price Performance

Everest Group stock traded up $2.40 during midday trading on Friday, reaching $346.22. 186,081 shares of the stock traded hands, compared to its average volume of 390,191. The stock's fifty day moving average is $346.59 and its 200-day moving average is $354.73. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The stock has a market cap of $14.73 billion, a P/E ratio of 11.02, a PEG ratio of 0.24 and a beta of 0.53. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Everest Group's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $16.32 EPS. As a group, equities research analysts anticipate 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, June 13th. Investors of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Wednesday, May 28th. Everest Group's dividend payout ratio is currently 41.15%.

Analyst Ratings Changes

EG has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Barclays reduced their price objective on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Evercore ISI reduced their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Raymond James reiterated a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Six equities 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $398.09.

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. The trade was a 10.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.