Fox Run Management L.L.C. Acquires New Stake in Everest Group, Ltd. $EG

Fox Run Management L.L.C. acquired a new stake in Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 2,692 shares of the company’s stock, valued at approximately $915,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. SVB Wealth LLC purchased a new stake in shares of Everest Group during the first quarter valued at $30,000. Zions Bancorporation National Association UT bought a new position in Everest Group in the 1st quarter worth about $34,000. Board of the Pension Protection Fund bought a new position in Everest Group in the 2nd quarter worth about $34,000. WPG Advisers LLC purchased a new position in shares of Everest Group during the first quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after acquiring an additional 90 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Up 2.0%

Everest Group stock opened at $326.00 on Monday. The business’s 50-day moving average price is $340.92 and its 200 day moving average price is $340.07. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 0.25 and a beta of 0.47. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $392.78.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). The company had revenue of $4.32 billion during 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 company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $11.80 earnings per share. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

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

Analyst Upgrades and Downgrades

EG has been the topic of several research reports. Cowen restated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Cantor Fitzgerald upgraded Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Evercore ISI upped their price objective on shares of Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Wells Fargo & Company cut their target price on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Everest Group has an average rating of “Hold” and a consensus price target of $372.36.

Insiders Place Their Bets

In other Everest Group news, Director Allan Levine purchased 3,100 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were purchased at an average cost 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. The trade was a 294.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William F. Galtney, Jr. acquired 11,385 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were acquired at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the purchase, the director owned 45,491 shares in the company, valued at $13,983,023.58. This represents a 33.38% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

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.