Nuance Investments LLC Purchases 4,632 Shares of Everest Group, Ltd. $EG

Nuance Investments LLC raised its position in Everest Group, Ltd. (NYSE:EG) by 28.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,036 shares of the company’s stock after buying an additional 4,632 shares during the quarter. Nuance Investments LLC owned about 0.05% of Everest Group worth $7,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Everest Group by 3.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock valued at $372,000 after acquiring an additional 30 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Everest Group by 4.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $277,000 after purchasing an additional 34 shares in the last quarter. Baader Bank Aktiengesellschaft increased its stake in shares of Everest Group by 6.6% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company’s stock valued at $213,000 after purchasing an additional 37 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Everest Group by 0.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,059 shares of the company’s stock valued at $1,838,000 after purchasing an additional 39 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC raised its holdings in shares of Everest Group by 2.9% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 1,493 shares of the company’s stock worth $507,000 after buying an additional 42 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on EG shares. Barclays decreased their target price on Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $350.00 price target on shares of Everest Group in a report on Monday, November 3rd. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Cowen restated a “hold” rating on shares of Everest Group in a research report on Tuesday, October 7th. Finally, Wolfe Research raised shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $372.36.

Everest Group Trading Up 2.0%

EG opened at $326.00 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $392.78. The company’s 50 day moving average price is $340.92 and its two-hundred day moving average price is $340.18. The firm has a market capitalization of $13.68 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 0.25 and a beta of 0.47.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $11.80 EPS. As a group, research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th will be paid a $2.00 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $8.00 annualized dividend and a dividend yield of 2.5%. Everest Group’s payout ratio is currently 60.93%.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. acquired 11,385 shares of the stock in a transaction dated Wednesday, October 29th. The stock was purchased at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the completion of the purchase, the director directly owned 45,491 shares in the company, valued at $13,983,023.58. This trade represents a 33.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan Levine purchased 3,100 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was bought at an average cost of $306.08 per share, with a total value of $948,848.00. Following the completion of the transaction, the director directly owned 4,153 shares in the company, valued at $1,271,150.24. The trade was a 294.40% increase in their position. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by insiders.

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.