Flagship Harbor Advisors LLC Buys 30 Shares of Everest Group, Ltd. (NYSE:EG)

Flagship Harbor Advisors LLC grew its stake in Everest Group, Ltd. (NYSE:EG) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 843 shares of the company’s stock after buying an additional 30 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Everest Group were worth $306,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in Everest Group during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Everest Group during the fourth quarter valued at approximately $31,000. Optiver Holding B.V. purchased a new position in shares of Everest Group in the fourth quarter worth $51,000. Bruce G. Allen Investments LLC grew its stake in 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 in the last quarter. Finally, Private Trust Co. NA increased its holdings in Everest Group by 48.5% in the 4th 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 last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

EG stock opened at $336.48 on Thursday. The stock has a market cap of $14.31 billion, a PE ratio of 17.31, a P/E/G ratio of 0.27 and a beta of 0.53. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The company has a 50-day moving average price of $344.37 and a 200 day moving average price of $350.54. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company posted $16.32 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group’s dividend payout ratio is currently 41.15%.

Analyst Ratings Changes

EG has been the topic of several research reports. Evercore ISI reduced their target price on Everest Group from $400.00 to $396.00 and set an “in-line” rating on the stock in a report on Thursday, May 1st. Morgan Stanley upped their price objective on Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Barclays lowered their target price on Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Janney Montgomery Scott assumed coverage on shares of Everest Group in a research report on Friday, June 20th. They issued a “buy” rating and a $425.00 price target on the stock. Finally, Jefferies Financial Group raised shares of Everest Group from a “hold” rating to a “buy” rating and upped their price target for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $400.33.

Insider Activity

In other news, CEO James Allan Williamson bought 1,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was acquired at an average cost of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer now directly owns 25,618 shares in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

About Everest Group

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.