Twin Capital Management Inc. Invests $3.62 Million in Everest Group, Ltd. (NYSE:EG)

Twin Capital Management Inc. bought a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,238 shares of the company’s stock, valued at approximately $3,620,000.

A number of other large investors have also modified their holdings of EG. Allworth Financial LP acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $25,000. Avior Wealth Management LLC bought a new stake in shares of Everest Group in the fourth quarter valued at about $25,000. Janiczek Wealth Management LLC bought a new stake in shares of Everest Group in the fourth quarter valued at about $27,000. Trifecta Capital Advisors LLC bought a new stake in Everest Group during the fourth quarter worth about $28,000. Finally, Toth Financial Advisory Corp bought a new stake in Everest Group during the fourth quarter worth about $46,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EG shares. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. TD Cowen assumed coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company cut their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Finally, Morgan Stanley dropped their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Insider Activity

In other Everest Group news, COO James Allan Williamson purchased 700 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the transaction, the chief operating officer now owns 11,749 shares in the company, valued at approximately $4,141,522.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Roger M. Singer bought 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the transaction, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Allan Williamson bought 700 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $352.50 per share, with a total value of $246,750.00. Following the transaction, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 2,485 shares of company stock worth $874,786. 1.40% of the stock is currently owned by insiders.

Everest Group Price Performance

EG stock traded down $0.63 during mid-day trading on Thursday, reaching $356.51. 140,432 shares of the company traded hands, compared to its average volume of 368,108. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $18.99 billion, a P/E ratio of 5.98, a P/E/G ratio of 3.18 and a beta of 0.56. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The company has a fifty day moving average price of $375.51 and a 200-day moving average price of $380.33.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share 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 company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $12.21 EPS. As a group, analysts anticipate that Everest Group, Ltd. will post 61.21 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. 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.