Truist Financial Corp Acquires 91,726 Shares of Everest Group, Ltd. (NYSE:EG)

Truist Financial Corp grew its holdings in Everest Group, Ltd. (NYSE:EG) by 7,580.7% in the fourth quarter, Holdings Channel reports. The firm owned 92,936 shares of the company’s stock after buying an additional 91,726 shares during the quarter. Truist Financial Corp’s holdings in Everest Group were worth $33,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EG. Blue Trust Inc. increased its holdings in shares of Everest Group by 179.0% in the 3rd quarter. Blue Trust Inc. now owns 452 shares of the company’s stock worth $172,000 after purchasing an additional 290 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Everest Group by 29.6% in the third quarter. Raymond James & Associates now owns 31,966 shares of the company’s stock worth $12,525,000 after acquiring an additional 7,306 shares during the period. Waterway Wealth Management LLC bought a new stake in shares of Everest Group in the third quarter worth $295,000. Foundations Investment Advisors LLC bought a new stake in shares of Everest Group in the third quarter worth $245,000. Finally, Signaturefd LLC grew its holdings in shares of Everest Group by 51.4% in the third quarter. Signaturefd LLC now owns 536 shares of the company’s stock worth $210,000 after acquiring an additional 182 shares during the period. Institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Barclays lifted their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, TD Cowen cut their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $416.50.

Everest Group Stock Performance

NYSE:EG opened at $337.83 on Wednesday. The stock has a 50-day simple moving average of $354.83 and a two-hundred day simple moving average of $371.18. Everest Group, Ltd. has a 52-week low of $327.37 and a 52-week high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $14.52 billion, a PE ratio of 10.76, a P/E/G ratio of 0.22 and a beta of 0.65.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Analysts forecast that Everest Group, Ltd. will post 53.11 EPS for the current year.

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.