AQR Capital Management LLC Boosts Holdings in Everest Group, Ltd. $EG

AQR Capital Management LLC boosted its holdings in Everest Group, Ltd. (NYSE:EG) by 65.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,180,615 shares of the company’s stock after purchasing an additional 467,656 shares during the period. AQR Capital Management LLC’s holdings in Everest Group were worth $399,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SVB Wealth LLC bought a new position in Everest Group in the first quarter worth about $30,000. Board of the Pension Protection Fund purchased a new position in shares of Everest Group during the 2nd quarter worth approximately $34,000. WPG Advisers LLC bought a new position in shares of Everest Group in the 1st quarter worth approximately $37,000. Allworth Financial LP raised its position in shares of Everest Group by 96.8% in the 2nd quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after acquiring an additional 90 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Everest Group by 98.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after purchasing an additional 90 shares during the period. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

EG has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Wolfe Research upgraded shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Barclays dropped their price objective on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, Wells Fargo & Company decreased their target price on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $368.77.

Insider Buying and Selling

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

Everest Group Price Performance

Shares of EG opened at $327.15 on Friday. The company has a market capitalization of $13.73 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 0.28 and a beta of 0.39. The firm has a 50 day moving average of $327.37 and a 200 day moving average of $334.92. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $373.23. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the company earned $11.80 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Wednesday, November 26th were issued a $2.00 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $8.00 annualized dividend and a yield of 2.4%. Everest Group’s dividend payout ratio (DPR) is currently 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.