Victory Capital Management Inc. Acquires 100,377 Shares of Everest Group, Ltd. (NYSE:EG)

Victory Capital Management Inc. raised its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 39.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,205 shares of the company's stock after buying an additional 100,377 shares during the period. Victory Capital Management Inc. owned 0.74% of Everest Group worth $128,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in shares of Everest Group during the fourth quarter worth approximately $29,000. Tsfg LLC bought a new stake in shares of Everest Group during the first quarter worth approximately $33,000. Optiver Holding B.V. bought a new stake in shares of Everest Group during the fourth quarter worth approximately $51,000. Bruce G. Allen Investments LLC raised its stake in shares of Everest Group by 79.1% during the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after buying an additional 68 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock worth $76,000 after buying an additional 64 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO James Allan Williamson bought 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the purchase, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore ISI dropped their price target on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and upped their target price for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Wells Fargo & Company set a $362.00 target price on shares of Everest Group and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Morgan Stanley upped their target price on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $400.83.

Everest Group Stock Up 0.6%

Shares of EG stock traded up $1.96 during trading hours on Thursday, hitting $333.87. 211,130 shares of the company were exchanged, compared to its average volume of 404,895. The business has a 50 day moving average of $340.19 and a two-hundred day moving average of $348.11. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The company has a market capitalization of $14.20 billion, a PE ratio of 17.17, a PEG ratio of 0.26 and a beta of 0.51.

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 the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the company posted $16.32 EPS. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio is currently 41.15%.

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.