DAVENPORT & Co LLC Boosts Stock Position in Everest Group, Ltd. (NYSE:EG)

DAVENPORT & Co LLC grew its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 178.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,530 shares of the company’s stock after buying an additional 12,511 shares during the quarter. DAVENPORT & Co LLC’s holdings in Everest Group were worth $7,062,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its holdings in Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares during the last quarter. Eastern Bank acquired a new stake in shares of Everest Group during the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group bought a new position in Everest Group during the third quarter worth $39,000. Private Trust Co. NA boosted its holdings in Everest Group by 51.7% in the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after purchasing an additional 45 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the third quarter valued at $64,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Barclays lowered their target price on Everest Group from $499.00 to $461.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. TD Cowen reduced their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company dropped their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Bank of America reduced their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Everest Group has a consensus rating of “Hold” and an average price target of $422.56.

Insider Activity

In other news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is owned by insiders.

Everest Group Price Performance

Shares of NYSE EG opened at $345.85 on Tuesday. The firm’s 50-day simple moving average is $364.45 and its 200 day simple moving average is $374.69. The stock has a market cap of $14.86 billion, a P/E ratio of 5.41, a P/E/G ratio of 2.50 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a fifty-two week low of $341.00 and a fifty-two week high of $407.30.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 22.45% and a net margin of 16.99%. Equities analysts expect that Everest Group, Ltd. will post 36.3 EPS for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Wednesday, November 27th. Everest Group’s payout ratio is currently 12.52%.

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.