Vest Financial LLC Raises Position in Everest Group, Ltd. (NYSE:EG)

Vest Financial LLC raised its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 1,041.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,221 shares of the company's stock after purchasing an additional 71,371 shares during the quarter. Vest Financial LLC owned 0.16% of Everest Group worth $28,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Everest Group in the fourth quarter valued at $488,588,000. Vulcan Value Partners LLC raised its stake in Everest Group by 279.1% in the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after acquiring an additional 720,572 shares during the period. Sterling Capital Management LLC lifted its holdings in Everest Group by 11,756.0% during the fourth quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock valued at $100,987,000 after purchasing an additional 276,266 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Everest Group by 14,518.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock valued at $68,882,000 after purchasing an additional 188,740 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Everest Group by 31,899.6% during 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 period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on EG. Evercore ISI lowered their price target on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley boosted their target price on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. UBS Group cut their price target on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Finally, Barclays dropped their price objective on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Everest Group has a consensus rating of "Moderate Buy" and a consensus target price of $398.09.

Everest Group Price Performance

Shares of EG stock traded down $5.56 on Monday, reaching $340.62. The company's stock had a trading volume of 365,131 shares, compared to its average volume of 391,107. The company has a market capitalization of $14.49 billion, a P/E ratio of 10.84, a PEG ratio of 0.24 and a beta of 0.53. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The stock's 50 day simple moving average is $346.09 and its 200-day simple moving average is $354.02. 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 released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The business had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the previous year, the business earned $16.32 EPS. The business's revenue was up 3.1% on a year-over-year basis. As a group, equities analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $8.00 annualized dividend and a yield of 2.35%. Everest Group's payout ratio is presently 41.15%.

Insider Buying and Selling at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Everest Group 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.