2,840 Shares in Everest Group, Ltd. (NYSE:EG) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,840 shares of the company’s stock, valued at approximately $1,004,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Everest Group during the 4th quarter valued at about $39,992,000. Zweig DiMenna Associates LLC purchased a new stake in Everest Group during the 4th quarter valued at about $35,503,000. Allspring Global Investments Holdings LLC purchased a new stake in Everest Group during the 4th quarter valued at about $31,810,000. Strs Ohio purchased a new stake in Everest Group during the 4th quarter valued at about $23,980,000. Finally, New York State Teachers Retirement System purchased a new stake in Everest Group during the 4th quarter valued at about $19,854,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Everest Group news, Director Roger M. Singer acquired 500 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the transaction, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Everest Group news, Director Roger M. Singer acquired 500 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the transaction, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mike Karmilowicz acquired 285 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $352.39 per share, with a total value of $100,431.15. Following the completion of the transaction, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Insiders purchased 2,485 shares of company stock worth $874,786 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Keefe, Bruyette & Woods upped their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley reduced their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday. Finally, TD Cowen initiated coverage on Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target for the company. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Everest Group presently has an average rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Price Performance

Shares of Everest Group stock opened at $357.20 on Thursday. The business has a 50 day simple moving average of $375.51 and a two-hundred day simple moving average of $380.33. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92. The stock has a market capitalization of $19.02 billion, a P/E ratio of 5.98, a PEG ratio of 3.18 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $12.21 earnings per share. As a group, analysts predict that Everest Group, Ltd. will post 61.21 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.96%. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

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.