Perpetual Ltd Acquires Shares of 104,366 Everest Group, Ltd. (NYSE:EG)

Perpetual Ltd bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 104,366 shares of the company’s stock, valued at approximately $37,919,000.

Several other large investors also recently modified their holdings of EG. Flagship Harbor Advisors LLC raised its position in Everest Group by 3.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock valued at $306,000 after purchasing an additional 30 shares during the last quarter. Legacy Advisors LLC increased its stake in shares of Everest Group by 5.5% during the first quarter. Legacy Advisors LLC now owns 599 shares of the company’s stock valued at $218,000 after buying an additional 31 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Everest Group by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company’s stock valued at $1,913,000 after acquiring an additional 36 shares in the last quarter. Van Den Berg Management I Inc. raised its holdings in shares of Everest Group by 0.3% during the fourth quarter. Van Den Berg Management I Inc. now owns 13,462 shares of the company’s stock valued at $4,879,000 after acquiring an additional 40 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Everest Group by 0.8% in the first quarter. Handelsbanken Fonder AB now owns 6,416 shares of the company’s stock worth $2,331,000 after acquiring an additional 48 shares during the period. 92.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Janney Montgomery Scott initiated coverage on shares of Everest Group in a research report on Friday, June 20th. They set a “buy” rating and a $425.00 price objective on the stock. Jefferies Financial Group upgraded shares of Everest Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Morgan Stanley raised their price objective on shares of Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Wells Fargo & Company cut their price objective on Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Finally, UBS Group decreased their target price on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $400.33.

Insider Buying and Selling

In other news, CEO James Allan Williamson acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer now directly owns 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Everest Group Stock Performance

Shares of EG opened at $339.57 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The stock has a market cap of $14.44 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.26 and a beta of 0.53. The business’s 50 day moving average price is $344.16 and its 200-day moving average price is $350.34. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30.

Everest Group (NYSE:EG) last announced 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). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the firm posted $16.32 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Wednesday, May 28th. Everest Group’s payout ratio is 41.15%.

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.