William Blair Investment Management LLC increased its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 642,813 shares of the company's stock after buying an additional 61,026 shares during the quarter. William Blair Investment Management LLC owned about 1.50% of Everest Group worth $232,994,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. World Investment Advisors LLC bought a new stake in Everest Group during the third quarter worth $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Everest Group by 442.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company's stock worth $120,744,000 after purchasing an additional 251,337 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Everest Group during the fourth quarter worth $48,290,000. Truist Financial Corp lifted its stake in Everest Group by 7,580.7% during the fourth quarter. Truist Financial Corp now owns 92,936 shares of the company's stock worth $33,686,000 after purchasing an additional 91,726 shares during the last quarter. Finally, FMR LLC lifted its stake in Everest Group by 21.5% during the third quarter. FMR LLC now owns 410,861 shares of the company's stock worth $160,988,000 after purchasing an additional 72,822 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.
Analysts Set New Price Targets
Several research firms have weighed in on EG. BMO Capital Markets cut Everest Group from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Morgan Stanley reiterated an "equal weight" rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. TD Cowen dropped their price target on Everest Group from $444.00 to $419.00 and set a "hold" rating for the company in a research note on Monday, November 18th. Jefferies Financial Group cut Everest Group from a "buy" rating to a "hold" rating and increased their price target for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their price target on Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $416.50.
Read Our Latest Analysis on EG
Everest Group Stock Performance
Shares of EG opened at $359.35 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50-day moving average of $351.55 and a 200-day moving average of $368.29. The company has a market cap of $15.43 billion, a PE ratio of 11.44, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a one year low of $327.37 and a one year high of $407.30.
Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. On average, equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.
Everest Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be given a $2.00 dividend. The ex-dividend date is Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.23%. Everest Group's payout ratio is 25.47%.
Everest Group Company Profile
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Free Report)
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.
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