State of Alaska Department of Revenue Makes New Investment in Everest Group, Ltd. (NYSE:EG)

State of Alaska Department of Revenue purchased a new stake in Everest Group, Ltd. (NYSE:EGFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,467 shares of the company’s stock, valued at approximately $5,821,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC bought a new position in Everest Group in the 4th quarter worth $102,000. Red Door Wealth Management LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at about $237,000. TFB Advisors LLC bought a new position in shares of Everest Group in the fourth quarter worth about $309,000. Traynor Capital Management Inc. acquired a new position in shares of Everest Group during the 4th quarter worth about $466,000. Finally, Uncommon Cents Investing LLC bought a new stake in Everest Group during the 4th quarter valued at approximately $1,016,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Mike Karmilowicz acquired 285 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the purchase, 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 SEC, which can be accessed through this hyperlink. In other Everest Group news, CFO Mark Kociancic bought 1,000 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the purchase, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mike Karmilowicz purchased 285 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price 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 in the company, valued at $3,730,400.54. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,485 shares of company stock worth $874,786. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on Everest Group from $465.00 to $445.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Citigroup downgraded shares of Everest Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $452.00 to $375.00 in a report on Monday, February 12th. TD Cowen began coverage on shares of Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective on the stock. Evercore ISI assumed coverage on shares of Everest Group in a research note on Thursday, December 14th. They issued an “inline” rating and a $431.00 target price for the company. Finally, Wells Fargo & Company cut Everest Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $484.00 to $402.00 in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Everest Group has a consensus rating of “Moderate Buy” and a consensus target price of $434.67.

Read Our Latest Report on Everest Group

Everest Group Stock Performance

NYSE EG opened at $397.50 on Monday. The stock has a market cap of $17.24 billion, a P/E ratio of 6.65, a PEG ratio of 3.75 and a beta of 0.56. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The company’s 50-day simple moving average is $376.80 and its 200 day simple moving average is $381.27.

Everest Group (NYSE:EGGet Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion during 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%. Everest Group’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.21 EPS. As a group, research analysts forecast that Everest Group, Ltd. will post 62.04 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.76%. Everest Group’s payout ratio is presently 11.72%.

Everest Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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