Geode Capital Management LLC Acquires 6,217 Shares of Everest Group, Ltd. $EG

Geode Capital Management LLC raised its stake in shares of Everest Group, Ltd. (NYSE:EG) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,211,474 shares of the company’s stock after purchasing an additional 6,217 shares during the quarter. Geode Capital Management LLC’s holdings in Everest Group were worth $414,385,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in EG. PNC Financial Services Group Inc. raised its holdings in shares of Everest Group by 13.3% during the second quarter. PNC Financial Services Group Inc. now owns 5,734 shares of the company’s stock valued at $1,949,000 after purchasing an additional 675 shares during the last quarter. M&G PLC bought a new stake in Everest Group in the 2nd quarter worth approximately $6,830,000. Forsta AP Fonden raised its stake in Everest Group by 9.9% during the 2nd quarter. Forsta AP Fonden now owns 8,900 shares of the company’s stock valued at $3,025,000 after buying an additional 800 shares during the last quarter. National Pension Service lifted its holdings in shares of Everest Group by 1.8% during the 2nd quarter. National Pension Service now owns 30,900 shares of the company’s stock valued at $10,501,000 after buying an additional 560 shares during the period. Finally, Vise Technologies Inc. purchased a new position in shares of Everest Group in the 2nd quarter worth $205,000. 92.64% of the stock is currently owned by institutional investors.

Insider Activity

In other Everest Group news, Director Allan Levine bought 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the completion of the transaction, the director owned 4,153 shares of the company’s stock, valued at $1,271,150.24. This trade represents a 294.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William F. Galtney, Jr. bought 11,385 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were acquired at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the purchase, the director directly owned 45,491 shares in the company, valued at $13,983,023.58. This trade represents a 33.38% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.10% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE EG opened at $326.11 on Friday. The firm has a fifty day moving average price of $339.11 and a 200-day moving average price of $339.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market cap of $13.69 billion, a PE ratio of 24.84, 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.

Everest Group (NYSE:EG) last released its earnings results 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). The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $11.80 EPS. Equities analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Citigroup assumed coverage on Everest Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price objective for the company. Keefe, Bruyette & Woods reduced their price target on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Raymond James Financial reiterated an “outperform” rating and issued a $350.00 price objective on shares of Everest Group in a research note on Monday, November 3rd. Wall Street Zen lowered shares of Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a report on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $372.36.

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.