Empowered Funds LLC Buys 2,234 Shares of Everest Group, Ltd. $EG

Empowered Funds LLC grew its stake in Everest Group, Ltd. (NYSE:EG) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,263 shares of the company’s stock after purchasing an additional 2,234 shares during the quarter. Empowered Funds LLC owned about 0.06% of Everest Group worth $8,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Everest Group during the first quarter valued at about $137,418,000. Vulcan Value Partners LLC boosted its position in Everest Group by 35.8% during 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 in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Everest Group during the 2nd quarter worth approximately $28,785,000. Amundi raised its position in shares of Everest Group by 72.6% in the 1st quarter. Amundi now owns 180,484 shares of the company’s stock worth $65,292,000 after acquiring an additional 75,920 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Everest Group by 183.4% in the 1st quarter. Russell Investments Group Ltd. now owns 112,345 shares of the company’s stock worth $40,716,000 after acquiring an additional 72,709 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Allan Levine bought 3,100 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were acquired at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the purchase, the director owned 4,153 shares in the company, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. bought 11,385 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was acquired at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the transaction, 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 SEC filing for this purchase provides additional information. Company insiders own 1.10% of the company’s stock.

Everest Group Stock Performance

Shares of EG stock opened at $312.89 on Thursday. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 0.25 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $392.78. The company’s 50-day moving average is $337.77 and its 200 day moving average is $338.50.

Everest Group (NYSE:EG) last issued its 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 during the quarter, compared to analysts’ expectations of $3.86 billion. Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $11.80 earnings per share. Sell-side analysts expect 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. Investors of record on Wednesday, November 26th will be given a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $8.00 annualized dividend and a yield of 2.6%. Everest Group’s dividend payout ratio is 60.93%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cowen reaffirmed a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Barclays dropped their target price on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Wall Street Zen lowered shares of Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald upgraded 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 ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $368.77.

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.