Cerity Partners LLC Acquires New Holdings in Everest Group, Ltd. (NYSE:EG)

Cerity Partners LLC bought a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 22,782 shares of the company’s stock, valued at approximately $8,055,000.

Other institutional investors also recently bought and sold shares of the company. Uncommon Cents Investing LLC acquired a new position in Everest Group in the 4th quarter valued at about $1,016,000. Oak Thistle LLC acquired a new position in Everest Group in the 4th quarter valued at about $2,717,000. Synergy Asset Management LLC acquired a new position in shares of Everest Group during the fourth quarter worth about $9,914,000. State of Alaska Department of Revenue purchased a new stake in shares of Everest Group during the fourth quarter worth approximately $5,821,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Everest Group during the fourth quarter worth approximately $1,866,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Performance

Shares of Everest Group stock opened at $359.53 on Tuesday. The firm has a market capitalization of $15.60 billion, a P/E ratio of 6.02, a P/E/G ratio of 3.19 and a beta of 0.56. Everest Group, Ltd. has a 52 week low of $331.08 and a 52 week high of $417.92. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $376.46 and its two-hundred day moving average is $380.58.

Everest Group (NYSE:EG) last posted 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. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $12.21 earnings per share. Research analysts forecast that Everest Group, Ltd. will post 61.21 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, March 18th. Everest Group’s payout ratio is currently 11.72%.

Insider Activity

In other news, CFO Mark Kociancic acquired 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the acquisition, the chief financial officer now owns 25,733 shares of the company’s stock, valued at $8,980,817. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Mike Karmilowicz purchased 285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the acquisition, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Kociancic purchased 1,000 shares of the firm’s 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 completion of the acquisition, the chief financial officer now owns 25,733 shares of the company’s stock, valued at $8,980,817. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,485 shares of company stock valued at $874,786. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EG shares. Wells Fargo & Company cut their target price on shares of 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. TD Cowen started coverage on shares of Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Morgan Stanley cut their target price 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. Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and an average price target of $432.11.

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.