46,064 Shares in Everest Group, Ltd. $EG Acquired by Woodline Partners LP

Key Points

• Woodline Partners LP has acquired a new stake in Everest Group, Ltd., purchasing 46,064 shares valued at approximately $16.74 million, representing 0.11% of the company's total shares.
• Several hedge funds, including Vanguard Group and Vulcan Value Partners, have adjusted their stakes in Everest Group, contributing to institutional ownership of 92.64%.
• Everest Group announced a quarterly dividend of $2.00 per share, set to be paid on September 19th, reflecting an annualized dividend yield of 2.4%.

Woodline Partners LP acquired a new position in Everest Group, Ltd. (NYSE:EG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,064 shares of the company's stock, valued at approximately $16,736,000. Woodline Partners LP owned approximately 0.11% of Everest Group at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in Everest Group during the fourth quarter worth $29,000. SVB Wealth LLC purchased a new position in Everest Group in the first quarter valued at $30,000. Tsfg LLC acquired a new position in shares of Everest Group in the first quarter worth about $33,000. Zions Bancorporation National Association UT acquired a new position in shares of Everest Group in the first quarter worth about $34,000. Finally, WPG Advisers LLC purchased a new stake in shares of Everest Group during the 1st quarter worth about $37,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EG has been the subject of several recent analyst reports. Barclays lifted their price target on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Morgan Stanley raised their price objective on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Janney Montgomery Scott started coverage on Everest Group in a research report on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, UBS Group dropped their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.14.

Everest Group Price Performance

Shares of NYSE:EG traded up $0.98 during trading on Friday, reaching $349.42. The stock had a trading volume of 487,609 shares, compared to its average volume of 278,528. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The stock has a market cap of $14.66 billion, a PE ratio of 18.55, a PEG ratio of 0.26 and a beta of 0.51. The business has a fifty day moving average price of $337.11 and a 200-day moving average price of $344.01.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the firm posted $16.85 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. Everest Group's payout ratio is presently 42.46%.

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.