Flagship Harbor Advisors LLC Boosts Stake in Everest Group, Ltd. (NYSE:EG)

Flagship Harbor Advisors LLC raised its stake in shares of Everest Group, Ltd. (NYSE:EG) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 843 shares of the company’s stock after acquiring an additional 30 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Everest Group were worth $306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in EG. Praxis Investment Management Inc. lifted its holdings in shares of Everest Group by 58.1% during the 1st quarter. Praxis Investment Management Inc. now owns 4,490 shares of the company’s stock valued at $1,631,000 after purchasing an additional 1,650 shares during the last quarter. Blue Trust Inc. raised its stake in Everest Group by 54.6% in the first quarter. Blue Trust Inc. now owns 541 shares of the company’s stock valued at $197,000 after buying an additional 191 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in Everest Group by 2.3% in the first quarter. Johnson Investment Counsel Inc. now owns 190,646 shares of the company’s stock worth $69,267,000 after acquiring an additional 4,319 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Everest Group by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 6,924 shares of the company’s stock worth $2,515,000 after acquiring an additional 130 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in shares of Everest Group during the first quarter worth about $231,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Trading Down 1.3%

Shares of EG stock opened at $336.48 on Thursday. The stock’s fifty day moving average is $344.37 and its two-hundred day moving average is $350.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $14.31 billion, a P/E ratio of 17.31, a PEG ratio of 0.27 and a beta of 0.53. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $16.32 EPS. Research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group’s dividend payout ratio (DPR) is currently 41.15%.

Analysts Set New Price Targets

EG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley increased their price target on shares of Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. UBS Group dropped their price objective on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays decreased their target price on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $400.33.

Insider Buying and Selling at Everest Group

In other news, CEO James Allan Williamson purchased 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer now owns 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

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.