Price T Rowe Associates Inc. MD Boosts Stake in Everest Group, Ltd. (NYSE:EG)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,269 shares of the company's stock after buying an additional 9,475 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.25% of Everest Group worth $39,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Everest Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after purchasing an additional 43,793 shares during the last quarter. Norges Bank acquired a new position in Everest Group during the 4th quarter valued at approximately $488,588,000. Franklin Resources Inc. raised its holdings in shares of Everest Group by 0.4% in the fourth 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 last quarter. Geode Capital Management LLC lifted its stake in shares of Everest Group by 0.7% during the fourth 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 during the period. Finally, Invesco Ltd. grew its holdings in shares of Everest Group by 17.2% during the fourth quarter. Invesco Ltd. now owns 855,120 shares of the company's stock valued at $309,947,000 after buying an additional 125,271 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Price Performance

Shares of Everest Group stock traded up $10.78 during trading hours on Friday, reaching $348.16. The stock had a trading volume of 366,842 shares, compared to its average volume of 370,096. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $16.64 billion, a PE ratio of 11.08, a PEG ratio of 0.24 and a beta of 0.43. The stock's 50 day moving average is $353.32 and its 200 day moving average is $359.57.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company posted $16.32 EPS. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.30%. Everest Group's dividend payout ratio is currently 25.47%.

Insider Buying and Selling

In other Everest Group 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 transaction of $540,945.00. Following the completion of the sale, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

EG has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. 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 report on Thursday. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley restated an "equal weight" rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Finally, UBS Group dropped their price objective on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $396.00.

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.