Everest Group, Ltd. (NYSE:EG) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 14.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,871 shares of the company's stock after purchasing an additional 1,235 shares during the period. Wedge Capital Management L L P NC's holdings in Everest Group were worth $3,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after purchasing an additional 43,793 shares in the last quarter. Norges Bank acquired a new position in shares of Everest Group in the fourth quarter valued at approximately $488,588,000. Franklin Resources Inc. increased its stake in Everest Group by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock worth $464,533,000 after buying an additional 4,544 shares during the period. Geode Capital Management LLC lifted its holdings in Everest Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock worth $424,344,000 after buying an additional 8,321 shares in the last quarter. Finally, Vulcan Value Partners LLC boosted its position 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 buying an additional 720,572 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Down 1.3%

EG traded down $4.33 on Tuesday, reaching $336.29. The company's stock had a trading volume of 303,521 shares, compared to its average volume of 390,757. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 0.24 and a beta of 0.53. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $346.09 and a two-hundred day moving average of $354.02.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $16.32 EPS. As a group, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company 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. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.38%. Everest Group's dividend 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 business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now owns 12,279 shares of the company's stock, valued at approximately $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EG shares. Wells Fargo & Company decreased their target price on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. UBS Group decreased their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Barclays cut their target price on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Evercore ISI decreased 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. Finally, Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $398.09.

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.