17,213 Shares in Everest Group, Ltd. (NYSE:EG) Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,213 shares of the company’s stock, valued at approximately $6,813,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. purchased a new stake in Everest Group in the fourth quarter valued at $1,886,055,000. Wellington Management Group LLP purchased a new stake in Everest Group in the fourth quarter valued at $751,457,000. Franklin Resources Inc. purchased a new stake in Everest Group in the fourth quarter valued at $373,130,000. Boston Partners purchased a new stake in Everest Group in the fourth quarter valued at $328,064,000. Finally, Norges Bank purchased a new stake in shares of Everest Group in the fourth quarter valued at about $202,271,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE EG traded up $5.35 during trading hours on Wednesday, hitting $378.15. 231,214 shares of the stock were exchanged, compared to its average volume of 327,353. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 5.58, a price-to-earnings-growth ratio of 3.26 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. The stock has a 50-day moving average of $380.04 and a 200 day moving average of $375.32. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the company posted $11.31 earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities research analysts forecast that Everest Group, Ltd. will post 61.78 earnings per share for the current year.

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were given a dividend of $2.00 per share. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 29th. Everest Group’s dividend payout ratio is presently 11.89%.

Analysts Set New Price Targets

A number of brokerages have recently commented on EG. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley reduced their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company reduced their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $431.56.

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.