Wellington Management Group LLP Buys Shares of 2,125,282 Everest Group, Ltd. (NYSE:EG)

Wellington Management Group LLP bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,125,282 shares of the company’s stock, valued at approximately $751,457,000. Wellington Management Group LLP owned about 4.90% of Everest Group at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $18,995,000. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $1,271,000. Tower Research Capital LLC TRC acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $2,372,000. Corient Private Wealth LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $7,139,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $13,273,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EG. Morgan Stanley lowered their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Keefe, Bruyette & Woods increased their price objective on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Everest Group Trading Down 1.8 %

Shares of EG traded down $6.87 during midday trading on Friday, hitting $367.56. 203,745 shares of the stock were exchanged, compared to its average volume of 197,189. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The stock has a fifty day simple moving average of $377.15 and a 200 day simple moving average of $375.91. The firm has a market cap of $15.97 billion, a P/E ratio of 5.46, a P/E/G ratio of 3.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38.

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

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. 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 2.18%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Everest Group 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.