Vise Technologies Inc. Takes Position in Everest Group, Ltd. $EG

Vise Technologies Inc. acquired a new position in Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 602 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Everest Group by 3.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock worth $372,000 after acquiring an additional 30 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Everest Group by 4.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $277,000 after purchasing an additional 34 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in shares of Everest Group by 6.6% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company’s stock worth $213,000 after purchasing an additional 37 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Everest Group by 0.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,059 shares of the company’s stock valued at $1,838,000 after buying an additional 39 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its stake in Everest Group by 2.9% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 1,493 shares of the company’s stock valued at $507,000 after buying an additional 42 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Everest Group

In related news, Director William F. Galtney, Jr. purchased 11,385 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average price of $307.38 per share, with a total value of $3,499,521.30. Following the completion of the transaction, the director owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This trade represents a 33.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan Levine purchased 3,100 shares of the business’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 purchase, the director owned 4,153 shares of the company’s stock, valued at $1,271,150.24. This trade represents a 294.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Cantor Fitzgerald raised Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Wall Street Zen cut Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Finally, Citigroup assumed coverage on shares of Everest Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Everest Group presently has an average rating of “Hold” and an average price target of $368.77.

Everest Group Stock Performance

NYSE EG opened at $320.03 on Wednesday. The business’s 50-day moving average price is $338.31 and its 200 day moving average price is $338.68. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $392.78. The company has a market capitalization of $13.43 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 0.25 and a beta of 0.48. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, October 27th. The company reported $7.54 EPS 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 3.81%. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter last year, the firm earned $11.80 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share 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 issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, November 26th. Everest Group’s payout ratio is presently 60.93%.

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.