Fifth Third Bancorp Has $418,000 Stock Position in Everest Group, Ltd. (NYSE:EG)

Fifth Third Bancorp grew its position in Everest Group, Ltd. (NYSE:EG) by 18.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,151 shares of the company’s stock after buying an additional 176 shares during the quarter. Fifth Third Bancorp’s holdings in Everest Group were worth $418,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV lifted its position in shares of Everest Group by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company’s stock worth $1,913,000 after purchasing an additional 36 shares in the last quarter. Van Den Berg Management I Inc. raised its position in Everest Group by 0.3% during the fourth quarter. Van Den Berg Management I Inc. now owns 13,462 shares of the company’s stock valued at $4,879,000 after acquiring an additional 40 shares in the last quarter. Handelsbanken Fonder AB raised its position in Everest Group by 0.8% during the first quarter. Handelsbanken Fonder AB now owns 6,416 shares of the company’s stock valued at $2,331,000 after acquiring an additional 48 shares in the last quarter. PAX Financial Group LLC raised its position in Everest Group by 2.4% during the fourth quarter. PAX Financial Group LLC now owns 2,393 shares of the company’s stock valued at $867,000 after acquiring an additional 55 shares in the last quarter. Finally, United Capital Financial Advisors LLC raised its position in Everest Group by 7.1% during the fourth quarter. United Capital Financial Advisors LLC now owns 888 shares of the company’s stock valued at $322,000 after acquiring an additional 59 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group raised shares of Everest Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Evercore ISI cut their price objective on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Finally, Barclays cut their price objective on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $398.09.

Everest Group Trading Down 1.7%

NYSE:EG opened at $333.27 on Wednesday. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 0.26 and a beta of 0.53. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $345.75 and its 200-day moving average is $352.09.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $16.32 EPS. Equities analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were paid a $2.00 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.40%. Everest Group’s payout ratio is 41.15%.

Insider Transactions at Everest Group

In related news, CEO James Allan Williamson acquired 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the purchase, the chief executive officer now owns 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate 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.