IFM Investors Pty Ltd Takes $4.09 Million Position in Everest Group, Ltd. (NYSE:EG)

IFM Investors Pty Ltd bought a new position in Everest Group, Ltd. (NYSE:EG) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 10,282 shares of the company’s stock, valued at approximately $4,087,000.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Everest Group in the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC bought a new stake in Everest Group during the 4th quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in Everest Group during the 4th quarter valued at $25,000. Janiczek Wealth Management LLC bought a new stake in Everest Group in the 4th quarter worth $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Everest Group in the fourth quarter valued at about $28,000. 92.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EG has been the subject of a number of analyst reports. Morgan Stanley dropped their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. 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 report on Wednesday, April 10th. Wells Fargo & Company reduced 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 lowered Everest Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Finally, 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 on the stock. Three 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Everest Group Stock Performance

NYSE:EG traded down $1.06 during mid-day trading on Friday, reaching $364.70. The company’s stock had a trading volume of 294,127 shares, compared to its average volume of 289,171. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $19.42 billion, a P/E ratio of 6.11, a PEG ratio of 3.23 and a beta of 0.56. The firm’s fifty day moving average price is $375.92 and its two-hundred day moving average price is $379.71. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, beating the consensus estimate of $14.63 by $10.55. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the company earned $12.21 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is 11.72%.

Insider Buying and Selling at Everest Group

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

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.