Wedge Capital Management L L P NC Has $3.59 Million Holdings in Everest Group, Ltd. (NYSE:EG)

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

A number of other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in Everest Group during the 4th quarter worth $29,000. SBI Securities Co. Ltd. bought a new position in Everest Group during the 4th quarter worth $31,000. Optiver Holding B.V. bought a new position in Everest Group during the 4th quarter worth $51,000. Wilmington Savings Fund Society FSB grew its stake in Everest Group by 19.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock worth $71,000 after buying an additional 32 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in Everest Group by 48.5% during the 4th quarter. Private Trust Co. NA now owns 196 shares of the company's stock worth $71,000 after buying an additional 64 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Evercore ISI lowered their price objective on 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. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Barclays decreased their price target on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $398.09.

Insider Activity

In related news, Director Geraldine Losquadro sold 1,500 shares of the company's 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 transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer now directly owns 25,618 shares of the company's stock, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Everest Group Price Performance

Shares of Everest Group stock traded down $5.08 during trading on Friday, hitting $334.74. The stock had a trading volume of 430,435 shares, compared to its average volume of 393,986. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $14.24 billion, a P/E ratio of 10.66, a PEG ratio of 0.24 and a beta of 0.53. The business has a fifty day moving average of $345.89 and a two-hundred day moving average of $353.06. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30.

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 net margin of 7.95% and a return on equity of 9.04%. The company had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the prior year, the company earned $16.32 earnings per share. The company's revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Wednesday, May 28th. Everest Group's dividend payout ratio is 41.15%.

Everest Group Company 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.