Everest Group, Ltd. (NYSE:EG) Shares Bought by Deutsche Bank AG

Deutsche Bank AG grew its stake in Everest Group, Ltd. (NYSE:EG) by 28.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,730 shares of the company’s stock after purchasing an additional 51,492 shares during the period. Deutsche Bank AG owned approximately 0.54% of Everest Group worth $84,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in Everest Group in the 4th quarter valued at $488,588,000. Vulcan Value Partners LLC lifted its stake in shares of Everest Group by 279.1% in the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company’s stock worth $354,768,000 after acquiring an additional 720,572 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Everest Group by 11,756.0% in the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company’s stock worth $100,987,000 after acquiring an additional 276,266 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Everest Group by 14,518.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company’s stock valued at $68,882,000 after acquiring an additional 188,740 shares in the last quarter. Finally, Donald Smith & CO. Inc. acquired a new position in shares of Everest Group during the fourth quarter worth about $56,341,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG stock opened at $347.74 on Monday. The stock has a fifty day moving average price of $352.77 and a 200 day moving average price of $357.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $14.79 billion, a PE ratio of 11.07, a P/E/G ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s payout ratio is currently 41.15%.

Analyst Ratings Changes

A number of equities research analysts recently commented on EG shares. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Raymond James reissued a “strong-buy” rating and issued a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Barclays decreased their price target on Everest Group from $470.00 to $394.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, Evercore ISI reduced their target price on Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.18.

Insider Buying and Selling at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.