XTX Topco Ltd Takes Position in Everest Group, Ltd. (NYSE:EG)

Key Points

• XTX Topco Ltd acquired a new position in Everest Group, Ltd., buying 2,273 shares valued at approximately $826,000 in the first quarter.
• Everest Group reported $17.36 earnings per share for the last quarter, surpassing analysts' estimates of $15.14 by $2.22, indicating a year-over-year revenue increase of 6.2%.
• Insider activity includes CEO James Allan Williamson purchasing 1,000 shares at an average cost of $337.97 per share, increasing his total ownership to 25,618 shares valued at about $8.66 million.

XTX Topco Ltd bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 2,273 shares of the company's stock, valued at approximately $826,000.

Other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in shares of Everest Group in the 4th quarter valued at about $29,000. Tsfg LLC purchased a new position in shares of Everest Group in the 1st quarter valued at about $33,000. Optiver Holding B.V. purchased a new position in shares of Everest Group in the 4th quarter valued at about $51,000. Bruce G. Allen Investments LLC lifted its stake in 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 purchasing an additional 68 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in Everest Group during the fourth quarter worth approximately $104,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EG shares. Janney Montgomery Scott started coverage on Everest Group in a research note on Friday, June 20th. They set a "buy" rating and a $425.00 target price for the company. Barclays boosted their target price on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods boosted their target price on Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research note on Wednesday. Evercore ISI decreased their target price 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. Finally, Raymond James Financial restated a "strong-buy" rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Everest Group has a consensus rating of "Moderate Buy" and an average price target of $402.50.

Everest Group Stock Performance

NYSE EG traded up $1.35 on Friday, reaching $329.50. The stock had a trading volume of 144,234 shares, compared to its average volume of 408,914. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.35 and a current ratio of 0.38. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The business's 50-day moving average price is $336.89 and its 200 day moving average price is $345.01. The stock has a market cap of $13.82 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.24 and a beta of 0.50.

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

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group's payout ratio is presently 42.46%.

Insider Activity

In related news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price 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 in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

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.