Everest Group, Ltd. $EG Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. raised its stake in Everest Group, Ltd. (NYSE:EG) by 37.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 336,692 shares of the company’s stock after purchasing an additional 91,799 shares during the period. Balyasny Asset Management L.P. owned 0.80% of Everest Group worth $114,425,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Bank of America Corp DE increased its holdings in Everest Group by 3.0% in the second quarter. Bank of America Corp DE now owns 186,650 shares of the company’s stock valued at $63,433,000 after buying an additional 5,373 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Everest Group by 65.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,180,615 shares of the company’s stock worth $399,626,000 after acquiring an additional 467,656 shares in the last quarter. Lighthouse Investment Partners LLC raised its position in shares of Everest Group by 122.7% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 11,104 shares of the company’s stock valued at $3,774,000 after acquiring an additional 6,117 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Everest Group during the second quarter worth $182,000. Finally, Worldquant Millennium Advisors LLC boosted its holdings in Everest Group by 307.7% in the second quarter. Worldquant Millennium Advisors LLC now owns 6,719 shares of the company’s stock worth $2,283,000 after purchasing an additional 5,071 shares during the period. Institutional investors own 92.64% of the company’s stock.

Insider Activity

In related news, Director Allan Levine purchased 3,100 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were bought at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the transaction, the director owned 4,153 shares of the company’s stock, valued at $1,271,150.24. This represents a 294.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director William F. Galtney, Jr. purchased 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, with a total value of $3,499,521.30. Following the completion of the purchase, the director owned 45,491 shares in the company, valued at approximately $13,983,023.58. This trade represents a 33.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

EG has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $350.00 price target on shares of Everest Group in a report on Monday, November 3rd. Evercore ISI boosted their price objective on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Finally, Wall Street Zen lowered Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $368.77.

Everest Group Stock Performance

Shares of NYSE EG opened at $327.15 on Friday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $373.23. The company has a market cap of $13.73 billion, a PE ratio of 24.92, a P/E/G ratio of 0.28 and a beta of 0.39. The stock has a 50 day simple moving average of $327.37 and a 200-day simple moving average of $334.92. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last announced its earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the firm earned $11.80 EPS. The firm’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Wednesday, November 26th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, November 26th. Everest Group’s payout ratio is currently 60.93%.

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.