Empowered Funds LLC Purchases 2,234 Shares of Everest Group, Ltd. $EG

Empowered Funds LLC raised its position in Everest Group, Ltd. (NYSE:EG) by 9.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,263 shares of the company’s stock after acquiring an additional 2,234 shares during the quarter. Empowered Funds LLC’s holdings in Everest Group were worth $8,925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SVB Wealth LLC purchased a new stake in shares of Everest Group during the 1st quarter valued at about $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Everest Group in the first quarter worth approximately $34,000. Board of the Pension Protection Fund bought a new stake in Everest Group during the second quarter valued at approximately $34,000. WPG Advisers LLC purchased a new stake in Everest Group during the first quarter valued at approximately $37,000. Finally, Allworth Financial LP raised its position in Everest Group by 96.8% in the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after acquiring an additional 90 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. purchased 11,385 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were acquired at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allan Levine acquired 3,100 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average price of $306.08 per share, with a total value of $948,848.00. Following the transaction, the director owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This represents a 294.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Cantor Fitzgerald raised Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Wall Street Zen cut Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Evercore ISI increased their target price on shares of Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $368.77.

Everest Group Stock Performance

NYSE EG opened at $312.89 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $392.78. The business has a 50-day moving average price of $337.77 and a 200-day moving average price of $338.50. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 0.25 and a beta of 0.48.

Everest Group (NYSE:EG) last posted 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). Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the firm posted $11.80 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s payout ratio is 60.93%.

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.