MeadowBrook Investment Advisors LLC Invests $563,000 in Everest Group, Ltd. (NYSE:EG)

MeadowBrook Investment Advisors LLC purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,593 shares of the company’s stock, valued at approximately $563,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management purchased a new position in Everest Group in the 4th quarter valued at $168,328,000. Los Angeles Capital Management LLC purchased a new stake in shares of Everest Group during the fourth quarter worth $127,752,000. California Public Employees Retirement System purchased a new stake in Everest Group during the 4th quarter worth about $58,360,000. Swiss National Bank purchased a new stake in Everest Group in the fourth quarter valued at $47,981,000. Finally, Victory Capital Management Inc. acquired a new position in Everest Group in the fourth quarter valued at $40,865,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Everest Group

In related news, Director Roger M. Singer bought 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Everest Group news, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the purchase, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mike Karmilowicz acquired 285 shares of Everest Group stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the purchase, the chief executive officer now owns 10,586 shares in the company, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Over the last three months, insiders bought 2,485 shares of company stock valued at $874,786. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $452.00 to $375.00 in a report on Monday, February 12th. TD Cowen began coverage on Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target on the stock. Morgan Stanley lowered their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Finally, Wells Fargo & Company decreased their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Three research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $432.11.

Everest Group Stock Performance

Shares of NYSE:EG traded down $0.74 during trading on Tuesday, hitting $378.26. 100,176 shares of the stock were exchanged, compared to its average volume of 368,712. The company’s fifty day simple moving average is $376.26 and its 200-day simple moving average is $378.09. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 3.25 and a beta of 0.57. Everest Group, Ltd. has a 1-year low of $331.08 and a 1-year high of $417.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.37 and a current ratio of 0.35.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.31 EPS. Sell-side analysts expect that Everest Group, Ltd. will post 61.49 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s payout ratio is 10.40%.

About Everest Group

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.