Gulf International Bank UK Ltd Acquires Shares of 3,545 Everest Group, Ltd. (NYSE:EG)

Gulf International Bank UK Ltd acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,545 shares of the company’s stock, valued at approximately $1,409,000.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in Everest Group during the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC acquired a new position in shares of Everest Group during the fourth quarter worth $25,000. Headlands Technologies LLC acquired a new position in shares of Everest Group during the fourth quarter worth $25,000. Janiczek Wealth Management LLC acquired a new position in shares of Everest Group during the fourth quarter worth $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Everest Group during the fourth quarter worth $28,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Performance

Shares of Everest Group stock opened at $377.19 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The stock has a market cap of $16.39 billion, a price-to-earnings ratio of 5.61, a P/E/G ratio of 3.33 and a beta of 0.62. The company’s fifty day moving average is $377.88 and its 200 day moving average is $375.20.

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

Everest Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EG shares. Morgan Stanley lowered their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Wells Fargo & Company lowered their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Three research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

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.