Summit Global Investments Buys New Holdings in Everest Group, Ltd. (NYSE:EG)

Summit Global Investments bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,504 shares of the company’s stock, valued at approximately $7,250,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in Everest Group in the 4th quarter worth approximately $1,866,000. Red Door Wealth Management LLC bought a new stake in Everest Group in the 4th quarter worth approximately $237,000. Uncommon Cents Investing LLC bought a new stake in Everest Group in the 4th quarter worth approximately $1,016,000. Traynor Capital Management Inc. bought a new stake in Everest Group in the 4th quarter worth approximately $466,000. Finally, Global Retirement Partners LLC bought a new stake in Everest Group in the 4th quarter worth approximately $102,000. Institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EG shares. Keefe, Bruyette & Woods boosted their target price on 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 started coverage on Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Wells Fargo & Company cut their target price on 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. Finally, Morgan Stanley cut their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Three research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

Insider Transactions at Everest Group

In other news, 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 price of $357.21 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Roger M. Singer acquired 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the transaction, the director now directly owns 16,920 shares in the company, valued at $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mike Karmilowicz acquired 285 shares of the company’s 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 transaction, the chief executive officer now owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,485 shares of company stock valued at $874,786. 1.20% of the stock is currently owned by corporate insiders.

Everest Group Trading Up 0.0 %

Everest Group stock traded up $0.06 during mid-day trading on Thursday, hitting $369.96. The company’s stock had a trading volume of 418,113 shares, compared to its average volume of 372,829. The company has a 50 day moving average of $376.01 and a 200-day moving average of $378.94. The stock has a market cap of $19.70 billion, a PE ratio of 5.50, a P/E/G ratio of 3.23 and a beta of 0.57. 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 one year low of $331.08 and a one year high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the company earned $11.31 EPS. The business’s revenue was up 25.8% compared to the same quarter last year. On average, research analysts anticipate that Everest Group, Ltd. will post 61.23 EPS for the current year.

Everest Group Dividend Announcement

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

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.