Everest Group, Ltd. (NYSE:EG) Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC decreased its position in Everest Group, Ltd. (NYSE:EG) by 1.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,162 shares of the company’s stock after selling 226 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Everest Group were worth $4,419,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in Everest Group during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new position in Everest Group in the fourth quarter valued at approximately $31,000. Optiver Holding B.V. acquired a new position in Everest Group during the fourth quarter valued at approximately $51,000. Bruce G. Allen Investments LLC grew its stake in Everest Group by 79.1% during the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock worth $56,000 after buying an additional 68 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Everest Group by 19.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock worth $71,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Down 1.5%

EG stock opened at $334.74 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The firm has a fifty day moving average price of $345.89 and a two-hundred day moving average price of $353.06. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.24 and a beta of 0.53.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Everest Group’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $16.32 earnings per share. Research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.39%. Everest Group’s dividend payout ratio (DPR) is presently 41.15%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EG. Barclays decreased their price target 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. Keefe, Bruyette & Woods decreased their price target on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group upgraded shares of Everest Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $376.00 to $415.00 in a research note on Friday, April 11th. UBS Group decreased their target price on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $398.09.

Insider Activity

In other news, CEO James Allan Williamson bought 1,000 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now directly owns 25,618 shares in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.