Allspring Global Investments Holdings LLC Purchases 9,250 Shares of Everest Group, Ltd. (NYSE:EG)

Allspring Global Investments Holdings LLC raised its position in Everest Group, Ltd. (NYSE:EG) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,215 shares of the company’s stock after purchasing an additional 9,250 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.19% of Everest Group worth $39,438,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in shares of Everest Group during the 4th quarter valued at about $1,886,055,000. Wellington Management Group LLP bought a new position in Everest Group in the fourth quarter valued at approximately $751,457,000. Franklin Resources Inc. bought a new position in Everest Group in the fourth quarter valued at approximately $373,130,000. Boston Partners acquired a new position in shares of Everest Group in the fourth quarter valued at approximately $328,064,000. Finally, Norges Bank bought a new stake in shares of Everest Group during the fourth quarter worth $202,271,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on EG. Keefe, Bruyette & Woods boosted their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company reduced 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. Finally, Morgan Stanley decreased their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Everest Group currently has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Everest Group Stock Performance

Shares of NYSE EG opened at $364.77 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a 50 day moving average price of $379.87 and a 200 day moving average price of $374.88. The stock has a market capitalization of $15.85 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 3.20 and a beta of 0.63. Everest Group, Ltd. has a 52 week low of $333.65 and a 52 week high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, April 29th. The company reported $16.32 EPS for the quarter, beating the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $11.31 EPS. Analysts predict that Everest Group, Ltd. will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. 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 annualized dividend and a dividend yield of 2.19%. Everest Group’s payout ratio is currently 11.89%.

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.