Everest Group, Ltd. $EG Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 12.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 622,608 shares of the company’s stock after purchasing an additional 69,636 shares during the period. Massachusetts Financial Services Co. MA owned about 1.48% of Everest Group worth $211,593,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Everest Group by 3.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock worth $372,000 after acquiring an additional 30 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Everest Group by 4.3% during the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $277,000 after purchasing an additional 34 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of Everest Group by 6.6% during the first quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company’s stock valued at $213,000 after purchasing an additional 37 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Everest Group by 0.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,059 shares of the company’s stock worth $1,838,000 after purchasing an additional 39 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its holdings in shares of Everest Group by 2.9% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 1,493 shares of the company’s stock worth $507,000 after purchasing an additional 42 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their target price on Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Evercore ISI upped their price target on shares of Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Cowen reaffirmed a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Finally, Wall Street Zen lowered shares of Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Everest Group has an average rating of “Hold” and an average target price of $372.36.

Everest Group Price Performance

NYSE EG opened at $326.11 on Monday. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $392.78. The firm has a market capitalization of $13.69 billion, a PE ratio of 24.84, a P/E/G ratio of 0.25 and a beta of 0.47. The company’s 50 day simple moving average is $339.11 and its 200 day simple moving average is $339.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

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

Everest Group Announces Dividend

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 annualized dividend and a dividend yield of 2.5%. Everest Group’s payout ratio is currently 60.93%.

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.