Vanguard Group Inc. Makes New $1.89 Billion Investment in Everest Group, Ltd. (NYSE:EG)

Vanguard Group Inc. bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 5,334,167 shares of the company’s stock, valued at approximately $1,886,055,000. Vanguard Group Inc. owned 12.30% of Everest Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP acquired a new position in shares of Everest Group in the 4th quarter valued at about $25,000. Avior Wealth Management LLC acquired a new position in shares of Everest Group in the 4th quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in shares of Everest Group in the 4th quarter valued at about $25,000. Janiczek Wealth Management LLC acquired a new position in shares of Everest Group in the 4th quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Everest Group in the 4th quarter valued at about $28,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Performance

Shares of EG opened at $377.42 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a 50 day moving average price of $377.18 and a two-hundred day moving average price of $375.46. The firm has a market capitalization of $16.40 billion, a P/E ratio of 5.61, a P/E/G ratio of 3.30 and a beta of 0.62. Everest Group, Ltd. has a 52 week low of $331.08 and a 52 week high of $417.92.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, April 29th. The company reported $16.32 EPS for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $11.31 EPS. Equities analysts forecast that Everest Group, Ltd. will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were issued a dividend of $2.00 per share. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 29th. Everest Group’s payout ratio is currently 11.89%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EG shares. Morgan Stanley dropped their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Wells Fargo & Company dropped their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their target price on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

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.