WPG Advisers LLC Takes $37,000 Position in Everest Group, Ltd. $EG

WPG Advisers LLC purchased a new stake in Everest Group, Ltd. (NYSE:EG) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 102 shares of the company’s stock, valued at approximately $37,000.

A number of other large investors have also recently bought and sold shares of EG. Vanguard Group Inc. raised its holdings 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 buying an additional 17,346 shares during the last quarter. Vulcan Value Partners LLC increased its position in Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock valued at $482,832,000 after acquiring an additional 350,019 shares during the period. Boston Partners raised its stake in Everest Group by 3.3% during the 1st quarter. Boston Partners now owns 696,765 shares of the company’s stock valued at $253,150,000 after acquiring an additional 22,432 shares during the last quarter. Altrinsic Global Advisors LLC lifted its position in Everest Group by 10.7% during the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company’s stock worth $248,147,000 after acquiring an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Everest Group by 11.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock worth $200,911,000 after acquiring an additional 56,410 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the acquisition, the chief executive officer owned 25,618 shares of the company’s stock, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Everest Group Stock Up 0.7%

Shares of NYSE EG opened at $342.16 on Monday. The stock has a market capitalization of $14.35 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 0.25 and a beta of 0.51. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The firm has a 50-day moving average price of $336.04 and a 200 day moving average price of $343.65. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period last year, the company posted $16.85 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 3rd. Everest Group’s payout ratio is presently 42.46%.

Wall Street Analysts Forecast Growth

EG has been the subject of several analyst reports. Citigroup began coverage on Everest Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price target for the company. Barclays upped their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Wells Fargo & Company reissued a “mixed” rating on shares of Everest Group in a report on Monday, August 4th. Finally, Morgan Stanley raised their price objective on shares of Everest Group from $330.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $397.14.

About Everest Group

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.