Te Ahumairangi Investment Management Ltd Has $14.14 Million Stock Holdings in Everest Group, Ltd. $EG

Te Ahumairangi Investment Management Ltd increased its stake in Everest Group, Ltd. (NYSE:EG) by 15.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,596 shares of the company’s stock after acquiring an additional 5,666 shares during the period. Everest Group comprises approximately 2.5% of Te Ahumairangi Investment Management Ltd’s portfolio, making the stock its 5th largest position. Te Ahumairangi Investment Management Ltd owned about 0.10% of Everest Group worth $14,136,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in EG. SVB Wealth LLC bought a new stake in Everest Group during the first quarter worth about $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Everest Group during the 1st quarter valued at about $34,000. Board of the Pension Protection Fund bought a new stake in Everest Group in the 2nd quarter worth approximately $34,000. WPG Advisers LLC bought a new stake in Everest Group in the 1st quarter worth approximately $37,000. Finally, Allworth Financial LP boosted its stake in Everest Group by 96.8% in the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after buying an additional 90 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of Everest Group stock opened at $314.06 on Wednesday. The company’s fifty day simple moving average is $335.20 and its two-hundred day simple moving average is $337.43. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $392.11. The firm has a market cap of $13.18 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 0.25 and a beta of 0.47. 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 quarterly earnings data on Monday, October 27th. The company reported $7.54 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 the consensus estimate of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $11.80 earnings per share. As a group, equities analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

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

Insider Activity at Everest Group

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

Analysts Set New Price Targets

Several research analysts have commented on EG shares. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Barclays decreased their target price on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Wells Fargo & Company lowered their price target on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Everest Group in a research report on Tuesday, October 7th. Finally, Citigroup began coverage on Everest Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and an average target price of $368.77.

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.