Avidian Wealth Solutions LLC Makes New $836,000 Investment in Everest Group, Ltd. (NYSE:EG)

Avidian Wealth Solutions LLC bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,363 shares of the company’s stock, valued at approximately $836,000.

Several other large investors have also recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in shares of Everest Group in the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC purchased a new stake in Everest Group in the 4th quarter worth $25,000. Headlands Technologies LLC acquired a new position in Everest Group during the fourth quarter worth $25,000. Janiczek Wealth Management LLC purchased a new position in Everest Group during the fourth quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at about $28,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Trading Down 0.7 %

Shares of NYSE EG traded down $2.42 during trading on Friday, hitting $369.65. 194,932 shares of the company were exchanged, compared to its average volume of 350,143. 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, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92. The company has a fifty day moving average price of $376.02 and a 200-day moving average price of $378.44. The firm has a market capitalization of $19.69 billion, a PE ratio of 5.49, a P/E/G ratio of 3.25 and a beta of 0.57.

Everest Group (NYSE:EG) last issued its earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The company 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%. Everest Group’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $11.31 earnings per share. As a group, equities research analysts expect that Everest Group, Ltd. will post 61.49 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a yield of 1.89%. Everest Group’s payout ratio is 10.40%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EG shares. Morgan Stanley decreased 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 note on Monday, April 15th. Keefe, Bruyette & Woods lifted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and reduced 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 Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Everest Group currently has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Insiders Place Their Bets

In related news, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the acquisition, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Roger M. Singer acquired 500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $357.21 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Kociancic acquired 1,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $349.00 per share, with a total value of $349,000.00. Following the transaction, the chief financial officer now directly owns 25,733 shares in the company, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Insiders acquired a total of 2,485 shares of company stock valued at $874,786 over the last quarter. 1.20% of the stock is owned by insiders.

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.