24,152 Shares in Everest Group, Ltd. (NYSE:EG) Acquired by abrdn plc

abrdn plc purchased a new position in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,152 shares of the company’s stock, valued at approximately $8,540,000. abrdn plc owned about 0.06% of Everest Group as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EG. Allworth Financial LP purchased a new stake in shares of Everest Group in the 4th quarter worth about $25,000. Avior Wealth Management LLC purchased a new stake in shares of Everest Group in the 4th quarter worth about $25,000. Janiczek Wealth Management LLC purchased a new stake in shares of Everest Group in the 4th quarter worth about $27,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Everest Group in the 4th quarter worth about $28,000. Finally, Cambridge Trust Co. purchased a new position in Everest Group in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO Mike Karmilowicz acquired 285 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price 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 approximately $3,730,400.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO James Allan Williamson purchased 700 shares of Everest Group stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $352.50 per share, with a total value of $246,750.00. Following the completion of the acquisition, the chief operating officer now owns 11,749 shares in the company, valued at approximately $4,141,522.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mike Karmilowicz purchased 285 shares of Everest Group stock in a transaction dated 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 acquisition, the chief executive officer now owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Insiders bought 2,485 shares of company stock valued at $874,786 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

Everest Group Stock Down 0.3 %

EG opened at $364.70 on Friday. The firm has a 50 day moving average price of $375.92 and a 200 day moving average price of $379.71. The company has a market cap of $19.42 billion, a PE ratio of 6.11, a price-to-earnings-growth ratio of 3.23 and a beta of 0.56. Everest Group, Ltd. has a 1 year low of $331.08 and a 1 year high of $417.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Everest Group (NYSE:EG) last posted 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. 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 the consensus estimate of $3.85 billion. During the same quarter in the prior year, the company earned $12.21 EPS. The company’s revenue was up 12.4% on a year-over-year basis. Sell-side analysts expect that Everest Group, Ltd. will post 61.23 earnings per share for the current year.

Everest Group Dividend Announcement

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

Analyst Upgrades and Downgrades

EG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley reduced their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company dropped their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. TD Cowen began coverage on shares of Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective for the company. Finally, Citigroup downgraded shares of Everest Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. 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’s stock. 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 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.