Penserra Capital Management LLC Has $56,000 Holdings in Everest Group, Ltd. (NYSE:EG)

Penserra Capital Management LLC lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 40.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 155 shares of the company’s stock after selling 105 shares during the period. Penserra Capital Management LLC’s holdings in Everest Group were worth $56,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atria Investments Inc purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $581,000. Proficio Capital Partners LLC bought a new position in Everest Group during the 4th quarter valued at $10,247,000. Daiwa Securities Group Inc. boosted its holdings in Everest Group by 5.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,704 shares of the company’s stock worth $2,067,000 after acquiring an additional 312 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Everest Group by 68.7% in the 4th quarter. HighTower Advisors LLC now owns 3,963 shares of the company’s stock worth $1,436,000 after acquiring an additional 1,614 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after purchasing an additional 64 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James Allan Williamson acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the acquisition, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. The trade was a 4.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Everest Group Trading Down 0.4%

Shares of EG opened at $339.18 on Friday. The business has a 50-day moving average of $341.09 and a 200 day moving average of $348.75. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The firm has a market cap of $14.43 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 0.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35.

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

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.36%. The ex-dividend date was Wednesday, May 28th. Everest Group’s dividend payout ratio (DPR) is currently 41.15%.

Analysts Set New Price Targets

Several research analysts recently weighed in on EG shares. Raymond James Financial restated a “strong-buy” rating and set a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Morgan Stanley boosted their target price on Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Evercore ISI decreased their price target on Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a research report on Thursday, May 1st. UBS Group dropped their price target on Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Janney Montgomery Scott initiated coverage on Everest Group in a research note on Friday, June 20th. They issued a “buy” rating and a $425.00 price objective for the company. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Everest Group presently has an average rating of “Moderate Buy” and a consensus target price of $400.83.

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.