Bank of Stockton Reduces Position in Everest Group, Ltd. (NYSE:EG)

Bank of Stockton decreased its position in Everest Group, Ltd. (NYSE:EG) by 5.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,080 shares of the company’s stock after selling 60 shares during the period. Bank of Stockton’s holdings in Everest Group were worth $392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in Everest Group during the fourth quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Everest Group during the 4th quarter worth $31,000. Optiver Holding B.V. bought a new stake in Everest Group during the fourth quarter valued at about $51,000. Bruce G. Allen Investments LLC grew its position in shares of Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock worth $56,000 after buying an additional 68 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in Everest Group by 48.5% in 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 in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Insider Activity at Everest Group

In related news, CEO James Allan Williamson acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the purchase, the chief executive officer now owns 25,618 shares of the company’s stock, valued at $8,658,115.46. This represents a 4.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Everest Group Stock Down 1.3%

NYSE EG opened at $336.48 on Thursday. The business’s fifty day simple moving average is $344.37 and its 200-day simple moving average is $350.54. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The firm 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 52 week low of $320.00 and a 52 week high of $407.30.

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

Everest Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company decreased their price target on Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. UBS Group lowered their target price on Everest Group from $375.00 to $372.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley lifted their price objective 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. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and increased their target price for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Finally, Janney Montgomery Scott began coverage on shares of Everest Group in a research note on Friday, June 20th. They issued a “buy” rating and a $425.00 price target on the stock. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Everest Group presently has an average rating of “Moderate Buy” and an average target price of $400.33.

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.