Victory Capital Management Inc. Raises Stake in Everest Group, Ltd. (NYSE:EG)

Victory Capital Management Inc. boosted its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 39.7% in the first quarter, according to its most recent 13F filing with the Securities and 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 approximately 0.74% of Everest Group worth $128,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC lifted its holdings in shares of Everest Group by 68.7% during the 4th quarter. HighTower Advisors LLC now owns 3,963 shares of the company's stock worth $1,436,000 after acquiring an additional 1,614 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock worth $76,000 after purchasing an additional 64 shares during the period. Commonwealth Equity Services LLC raised its position in Everest Group by 25.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company's stock worth $4,369,000 after purchasing an additional 2,438 shares during the period. Natixis Advisors LLC raised its position in Everest Group by 12.0% in the 4th quarter. Natixis Advisors LLC now owns 29,566 shares of the company's stock worth $10,716,000 after purchasing an additional 3,156 shares during the period. Finally, Xponance Inc. raised its position in Everest Group by 3.1% in the 4th quarter. Xponance Inc. now owns 7,129 shares of the company's stock worth $2,584,000 after purchasing an additional 216 shares during the period. 92.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James Allan Williamson purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average cost of $337.97 per share, with a total value of $337,970.00. Following the completion of the acquisition, the chief executive officer owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents a 4.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

EG has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Barclays boosted their price target on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Morgan Stanley boosted their price target on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Finally, Evercore ISI reduced 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. Six research 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $400.83.

Everest Group Price Performance

Shares of Everest Group stock traded down $1.35 during trading hours on Friday, hitting $332.65. The company's stock had a trading volume of 269,573 shares, compared to its average volume of 403,021. The company has a market cap of $14.15 billion, a PE ratio of 17.11, a PEG ratio of 0.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. The business has a 50 day moving average price of $339.89 and a two-hundred day moving average price of $347.69. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the previous year, the business earned $16.32 earnings per share. The business's quarterly revenue was up 3.1% on a year-over-year basis. Analysts expect 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 was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio is presently 41.15%.

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.