Everest Group (NYSE:EG) Director William Galtney, Jr. Acquires 11,385 Shares of Stock

Everest Group, Ltd. (NYSE:EG) Director William Galtney, Jr. acquired 11,385 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the acquisition, the director owned 45,491 shares in the company, valued at $13,983,023.58. The trade was a 33.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Everest Group Price Performance

EG opened at $309.08 on Friday. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 0.25 and a beta of 0.48. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $343.63 and a 200-day moving average price of $341.56. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $392.78.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the firm posted $11.80 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given a $2.00 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. Everest Group’s payout ratio is 60.93%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Everest Group by 16.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,671 shares of the company’s stock worth $1,691,000 after buying an additional 658 shares in the last quarter. Amalgamated Bank boosted its stake in Everest Group by 1.1% in the first quarter. Amalgamated Bank now owns 8,488 shares of the company’s stock worth $3,084,000 after buying an additional 95 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Everest Group by 2.1% in the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock valued at $647,000 after purchasing an additional 36 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Everest Group by 1.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,669 shares of the company’s stock valued at $1,696,000 after purchasing an additional 64 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in shares of Everest Group by 17.1% in the 1st quarter. DAVENPORT & Co LLC now owns 22,874 shares of the company’s stock valued at $8,311,000 after purchasing an additional 3,344 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on EG. Citigroup began coverage on Everest Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 target price for the company. Cowen reaffirmed a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Raymond James Financial set a $375.00 price objective on shares of Everest Group and gave the company an “outperform” rating in a research note on Monday, September 22nd. UBS Group reduced their price target on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company reduced their price target on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $378.43.

Everest Group Company 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.