Cutter & CO Brokerage Inc. Buys Shares of 874 Everest Group, Ltd. (NYSE:EG)

Cutter & CO Brokerage Inc. acquired a new position 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 fund acquired 874 shares of the company’s stock, valued at approximately $309,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP acquired a new position in Everest Group during the 4th quarter worth about $25,000. Avior Wealth Management LLC acquired a new position in Everest Group during the 4th quarter valued at about $25,000. Janiczek Wealth Management LLC acquired a new position in Everest Group during the 4th quarter valued at about $27,000. Trifecta Capital Advisors LLC acquired a new position in Everest Group during the 4th quarter valued at about $28,000. Finally, DT Investment Partners LLC acquired a new position in Everest Group during the 4th quarter valued at about $31,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Mark Kociancic acquired 1,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the purchase, the chief financial officer now owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO James Allan Williamson purchased 700 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the transaction, the chief operating officer now directly owns 11,749 shares in the company, valued at approximately $4,141,522.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Kociancic purchased 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the transaction, the chief financial officer now owns 25,733 shares of the company’s stock, valued at $8,980,817. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,485 shares of company stock valued at $874,786. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EG shares. Keefe, Bruyette & Woods upped their target price 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. TD Cowen began coverage on shares of Everest Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Morgan Stanley cut their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Everest Group Trading Down 0.6 %

Shares of Everest Group stock traded down $2.33 on Wednesday, hitting $366.34. 149,138 shares of the company’s stock traded hands, compared to its average volume of 366,626. The company has a fifty day moving average of $376.19 and a two-hundred day moving average of $380.08. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92. The company has a market capitalization of $19.51 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 3.29 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 released its 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 company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. During the same quarter in the previous year, the company earned $12.21 EPS. Everest Group’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Everest Group, Ltd. will post 61.21 earnings per share for the current year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is 11.72%.

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.