Charles Schwab Investment Management Inc. Has $132.69 Million Stock Position in Everest Group, Ltd. $EG

Charles Schwab Investment Management Inc. grew its position in Everest Group, Ltd. (NYSE:EG) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 390,449 shares of the company’s stock after buying an additional 4,460 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.93% of Everest Group worth $132,694,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. SVB Wealth LLC acquired a new position in Everest Group during the first quarter worth about $30,000. Zions Bancorporation National Association UT bought a new position in Everest Group in the 1st quarter valued at approximately $34,000. Board of the Pension Protection Fund bought a new position in Everest Group in the 2nd quarter valued at approximately $34,000. WPG Advisers LLC acquired a new stake in Everest Group in the first quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Down 0.6%

Shares of Everest Group stock opened at $312.17 on Friday. The stock’s 50-day moving average is $334.30 and its 200 day moving average is $337.08. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $392.11. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 0.25 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.39 by ($5.85). The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. Everest Group’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $11.80 earnings per share. Equities research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $8.00 annualized dividend and a yield of 2.6%. Everest Group’s dividend payout ratio is currently 60.93%.

Insiders Place Their Bets

In other news, Director William F. Galtney, Jr. bought 11,385 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The stock was bought at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the purchase, the director directly owned 45,491 shares in the company, valued at approximately $13,983,023.58. This represents a 33.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan Levine bought 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average cost of $306.08 per share, with a total value of $948,848.00. Following the completion of the transaction, the director directly owned 4,153 shares in the company, valued at $1,271,150.24. This represents a 294.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

EG has been the subject of a number of research reports. Evercore ISI increased their price target on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Raymond James Financial reiterated an “outperform” rating and issued a $350.00 target price on shares of Everest Group in a research report on Monday, November 3rd. Wolfe Research upgraded Everest Group from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 29th. Citigroup began coverage on Everest Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average price target of $368.77.

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.