UniSuper Management Pty Ltd Purchases 2,524 Shares of Everest Group, Ltd. (NYSE:EG)

UniSuper Management Pty Ltd raised its position in Everest Group, Ltd. (NYSE:EG) by 534.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,996 shares of the company’s stock after purchasing an additional 2,524 shares during the period. UniSuper Management Pty Ltd’s holdings in Everest Group were worth $1,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. Clearbridge Investments LLC grew its position in shares of Everest Group by 1.5% during the 1st quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock valued at $115,052,000 after acquiring an additional 4,412 shares during the period. Seven Eight Capital LP bought a new position in Everest Group in the 1st quarter worth approximately $869,000. Champlain Investment Partners LLC boosted its holdings in Everest Group by 5.3% in the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after buying an additional 45,705 shares during the period. Edgestream Partners L.P. boosted its holdings in Everest Group by 69.8% in the 1st quarter. Edgestream Partners L.P. now owns 10,437 shares of the company’s stock worth $4,149,000 after buying an additional 4,292 shares during the period. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in Everest Group by 6.4% in the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 30,695 shares of the company’s stock worth $12,201,000 after buying an additional 1,840 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on EG. Morgan Stanley cut their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company lowered their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Finally, Bank of America increased their target price on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $437.40.

Everest Group Price Performance

Shares of Everest Group stock traded down $3.32 on Wednesday, hitting $381.54. 235,843 shares of the company traded hands, compared to its average volume of 326,531. The firm’s 50-day simple moving average is $382.44 and its 200 day simple moving average is $377.51. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. The company has a market cap of $16.58 billion, a P/E ratio of 5.67, a P/E/G ratio of 2.01 and a beta of 0.63. Everest Group, Ltd. has a 12-month low of $343.36 and a 12-month high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating the consensus estimate of $15.98 by $0.34. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company posted $11.31 EPS. Analysts expect that Everest Group, Ltd. will post 61.28 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, May 29th. This is a boost from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

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.