Steph & Co. Takes Position in Everest Group, Ltd. (NYSE:EG)

Steph & Co. acquired a new stake in 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 acquired 337 shares of the company’s stock, valued at approximately $119,000.

Several other hedge funds also recently modified their holdings of EG. Allworth Financial LP acquired a new position in shares of Everest Group in the fourth quarter valued at $25,000. Avior Wealth Management LLC acquired a new position in shares of Everest Group in the fourth quarter valued at $25,000. Janiczek Wealth Management LLC acquired a new position in shares of Everest Group in the fourth quarter valued at $27,000. Trifecta Capital Advisors LLC acquired a new position in shares of Everest Group in the fourth quarter valued at $28,000. Finally, Toth Financial Advisory Corp acquired a new position in Everest Group during the fourth quarter worth $46,000. 92.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EG. Wells Fargo & Company dropped their price objective 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. Morgan Stanley dropped 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. TD Cowen began coverage on Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Insiders Place Their Bets

In related news, CFO Mark Kociancic bought 1,000 shares of Everest Group stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the acquisition, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mark Kociancic bought 1,000 shares of Everest Group stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the acquisition, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,485 shares of company stock worth $874,786. Insiders own 1.40% of the company’s stock.

Everest Group Trading Down 0.8 %

Everest Group stock traded down $2.78 during mid-day trading on Wednesday, hitting $357.14. The stock had a trading volume of 446,692 shares, compared to its average volume of 371,344. The stock has a 50-day simple moving average of $376.05 and a two-hundred day simple moving average of $380.50. The stock has a market capitalization of $19.02 billion, a PE ratio of 6.03, a P/E/G ratio of 3.17 and a beta of 0.56. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

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 the consensus estimate of $14.63 by $10.55. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $12.21 earnings per share. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Announces Dividend

The business also recently announced 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 1.96%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is currently 11.72%.

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.