Westpac Banking Corp Raises Position in Everest Group, Ltd. $EG

Westpac Banking Corp raised its position in Everest Group, Ltd. (NYSE:EG) by 259.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,695 shares of the company’s stock after buying an additional 1,224 shares during the period. Westpac Banking Corp’s holdings in Everest Group were worth $576,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in shares of Everest Group in the first quarter valued at approximately $30,000. Zions Bancorporation National Association UT purchased a new stake in shares of Everest Group during the first quarter worth approximately $34,000. Board of the Pension Protection Fund acquired a new position in Everest Group in the 2nd quarter valued at $34,000. WPG Advisers LLC purchased a new position in Everest Group in the 1st quarter valued at $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 valued at $66,000 after purchasing an additional 90 shares in the last quarter. 92.64% of the stock is currently 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 Everest Group stock in a transaction 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 completion of the transaction, the director directly owned 4,153 shares of the company’s stock, valued at $1,271,150.24. This trade represents a 294.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director William F. Galtney, Jr. purchased 11,385 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was acquired at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the purchase, the director owned 45,491 shares in the company, valued at approximately $13,983,023.58. The trade was a 33.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

Everest Group Price Performance

Shares of EG stock opened at $320.40 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $13.45 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 0.25 and a beta of 0.47. The firm’s 50-day moving average is $338.72 and its two-hundred day moving average is $338.88. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $392.78.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share 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 net margin of 3.12% and a return on equity of 3.81%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $11.80 EPS. Analysts predict 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. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EG shares. Barclays dropped their target price on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Wall Street Zen downgraded shares of Everest Group from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Wolfe Research upgraded Everest Group from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 29th. Finally, Cowen restated a “hold” rating on shares of Everest Group in a research report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $368.77.

Everest Group 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.