Everest Group, Ltd. (NYSE:EG) Position Trimmed by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 23.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,697 shares of the company’s stock after selling 9,018 shares during the period. QRG Capital Management Inc.’s holdings in Everest Group were worth $10,790,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in shares of Everest Group during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Everest Group during the fourth quarter valued at $31,000. Optiver Holding B.V. acquired a new position in shares of Everest Group during the fourth quarter valued at $51,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Everest Group by 79.1% during the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock valued at $56,000 after acquiring an additional 68 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after acquiring an additional 64 shares during the period. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

EG stock opened at $338.88 on Tuesday. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $14.41 billion, a P/E ratio of 10.79, a PEG ratio of 0.24 and a beta of 0.53. The company has a 50-day simple moving average of $346.05 and a 200 day simple moving average of $352.22.

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

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group’s payout ratio is 41.15%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EG shares. UBS Group reduced their price target on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Barclays reduced their price target on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Morgan Stanley boosted their price target on shares of Everest Group from $330.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Wells Fargo & Company reduced their price objective on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Finally, Evercore ISI reduced their price objective on shares of 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 investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Everest Group has an average rating of “Moderate Buy” and an average price target of $398.09.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was bought at an average cost of $337.97 per share, with a total value of $337,970.00. Following the acquisition, the chief executive officer now owns 25,618 shares of the company’s stock, valued at $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.