Nuance Investments LLC Buys 4,632 Shares of Everest Group, Ltd. $EG

Nuance Investments LLC raised its position in Everest Group, Ltd. (NYSE:EG) by 28.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,036 shares of the company’s stock after acquiring an additional 4,632 shares during the period. Nuance Investments LLC’s holdings in Everest Group were worth $7,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EG. Vanguard Group Inc. raised its position in shares of Everest Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company’s stock valued at $2,026,428,000 after purchasing an additional 17,346 shares during the period. Vulcan Value Partners LLC grew its position in shares of Everest Group by 35.8% in the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock valued at $482,832,000 after purchasing an additional 350,019 shares in the last quarter. Boston Partners lifted its holdings in Everest Group by 3.3% during the 1st quarter. Boston Partners now owns 696,765 shares of the company’s stock worth $253,150,000 after purchasing an additional 22,432 shares in the last quarter. Altrinsic Global Advisors LLC grew its holdings in Everest Group by 10.7% during the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company’s stock valued at $248,147,000 after buying an additional 66,041 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Everest Group by 11.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock valued at $200,911,000 after buying an additional 56,410 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Everest Group

In other news, Director Allan Levine purchased 3,100 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were acquired at an average price of $306.08 per share, with a total value of $948,848.00. Following the acquisition, the director directly owned 4,153 shares in the company, valued at approximately $1,271,150.24. The trade was a 294.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William F. Galtney, Jr. acquired 11,385 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was purchased at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the transaction, the director directly owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This trade represents a 33.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Everest Group Trading Up 2.0%

NYSE EG opened at $326.00 on Friday. The firm has a market cap of $13.68 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 0.25 and a beta of 0.47. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $392.78. The stock has a 50-day moving average of $340.92 and a 200-day moving average of $340.18. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

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

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, November 26th. Everest Group’s dividend payout ratio is currently 60.93%.

Wall Street Analysts Forecast Growth

EG has been the subject of several analyst reports. Evercore ISI raised their price target on shares of Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Raymond James Financial reiterated an “outperform” rating and issued a $350.00 target price on shares of Everest Group in a research report on Monday, November 3rd. Finally, Barclays cut their price objective on Everest Group from $425.00 to $365.00 and set an “overweight” rating for the company in a report on Friday, October 31st. 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $372.36.

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.