Savant Capital LLC Purchases 8,213 Shares of Everest Group, Ltd. $EG

Savant Capital LLC boosted its position in Everest Group, Ltd. (NYSE:EG) by 503.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,844 shares of the company’s stock after acquiring an additional 8,213 shares during the period. Savant Capital LLC’s holdings in Everest Group were worth $3,345,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SVB Wealth LLC purchased a new stake in shares of Everest Group during the first quarter worth about $30,000. Zions Bancorporation National Association UT purchased a new position in Everest Group during the 1st quarter valued at about $34,000. Board of the Pension Protection Fund bought a new position in Everest Group during the 2nd quarter valued at approximately $34,000. WPG Advisers LLC purchased a new stake in Everest Group in the 1st quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Everest Group by 98.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Allan Levine purchased 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the purchase, the director directly owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This represents a 294.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. acquired 11,385 shares of Everest Group stock in a transaction that occurred on Wednesday, October 29th. The shares were bought 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. This represents a 33.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EG has been the topic of several research analyst reports. Barclays reduced their target price on Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Wolfe Research upgraded shares of Everest Group from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 29th. Evercore ISI boosted their price objective on shares of Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Wall Street Zen cut shares of Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, 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 note on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus price target of $372.36.

Everest Group Price Performance

EG opened at $326.00 on Monday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company 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. The stock has a fifty day simple moving average of $340.92 and a two-hundred day simple moving average of $340.07. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $392.78.

Everest Group (NYSE:EG) last released its earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). The business 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% compared to the same quarter last year. During the same period in the prior year, the company earned $11.80 earnings per share. Research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal 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. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, November 26th. Everest Group’s dividend payout ratio is 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.