Bruce G. Allen Investments LLC Raises Stake in Everest Group, Ltd. (NYSE:EG)

Bruce G. Allen Investments LLC raised its stake in shares of Everest Group, Ltd. (NYSE:EG) by 79.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 154 shares of the company’s stock after acquiring an additional 68 shares during the period. Bruce G. Allen Investments LLC’s holdings in Everest Group were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. acquired a new position in Everest Group during the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in Everest Group during the 4th quarter worth approximately $31,000. Optiver Holding B.V. purchased a new position in Everest Group in the fourth quarter valued at about $51,000. Wilmington Savings Fund Society FSB grew its holdings in Everest Group by 19.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after purchasing an additional 32 shares in 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 valued at $71,000 after purchasing an additional 64 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EG shares. Raymond James restated a “strong-buy” rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Wells Fargo & Company cut their target price on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $376.00 to $415.00 in a report on Friday, April 11th. UBS Group cut their price objective on Everest Group from $375.00 to $372.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Finally, Evercore ISI lowered their target price on Everest Group from $400.00 to $396.00 and set an “in-line” rating on the stock in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Everest Group has an average rating of “Moderate Buy” and a consensus price target of $398.09.

Everest Group Trading Up 0.7%

Shares of Everest Group stock opened at $346.22 on Monday. The firm has a market cap of $14.73 billion, a PE ratio of 11.02, a P/E/G ratio of 0.24 and a beta of 0.53. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. 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 stock has a fifty day moving average price of $346.59 and a 200-day moving average price of $354.36.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company posted $16.32 EPS. Equities research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 annualized dividend and a yield of 2.31%. Everest Group’s payout ratio is presently 41.15%.

Insider Transactions at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the sale, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

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.