Impact Partnership Wealth LLC Grows Stake in Everest Group, Ltd. $EG

Impact Partnership Wealth LLC increased its stake in Everest Group, Ltd. (NYSE:EG) by 20.4% during the second quarter, Holdings Channel.com reports. The firm owned 1,159 shares of the company’s stock after purchasing an additional 196 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Everest Group were worth $394,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Everest Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company’s stock worth $2,026,428,000 after purchasing an additional 17,346 shares during the period. Vulcan Value Partners LLC raised its holdings in Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock worth $482,832,000 after purchasing an additional 350,019 shares during the period. Boston Partners raised its holdings in Everest Group by 3.3% in the 1st quarter. Boston Partners now owns 696,765 shares of the company’s stock worth $253,150,000 after purchasing an additional 22,432 shares during the period. Altrinsic Global Advisors LLC raised its holdings in Everest Group by 10.7% in the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company’s stock worth $248,147,000 after purchasing an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Everest Group by 11.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock worth $200,911,000 after purchasing an additional 56,410 shares during the period. 92.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on EG. Keefe, Bruyette & Woods decreased their target price on Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Company decreased their target price on Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a report on Wednesday. Cowen reissued a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Citigroup assumed coverage on Everest Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price target on the stock. Finally, Barclays decreased their price target on Everest Group from $430.00 to $425.00 and set an “overweight” rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $378.43.

Insider Activity

In other news, Director William F. Galtney, Jr. bought 11,385 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the completion of the acquisition, the director owned 45,491 shares of the company’s stock, valued at $13,983,023.58. This trade represents a 33.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan Levine bought 3,100 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The stock was purchased at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the completion of the acquisition, the director directly owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. The trade was a 294.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Everest Group Trading Down 0.1%

Shares of EG stock opened at $309.08 on Friday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $392.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $343.63 and its 200-day moving average price is $341.56. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 0.25 and a beta of 0.48.

Everest Group (NYSE:EG) last issued its earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period last year, the firm posted $11.80 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s payout ratio is 60.93%.

Everest Group Company 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.