International Assets Investment Management LLC Acquires New Stake in Everest Group, Ltd. (NYSE:EG)

International Assets Investment Management LLC bought a new position in Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,983 shares of the company’s stock, valued at approximately $81,260,000.

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP purchased a new position in shares of Everest Group in the 4th quarter worth about $25,000. Global Retirement Partners LLC purchased a new position in Everest Group in the fourth quarter worth about $102,000. Webster Bank N. A. bought a new position in shares of Everest Group in the fourth quarter worth approximately $177,000. Meeder Asset Management Inc. bought a new position in shares of Everest Group in the fourth quarter worth approximately $205,000. Finally, Quent Capital LLC purchased a new stake in shares of Everest Group during the fourth quarter valued at approximately $229,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Everest Group

In related news, CEO Mike Karmilowicz bought 285 shares of the stock in a transaction dated Friday, February 9th. The shares were 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 owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Roger M. Singer purchased 500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the acquisition, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $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 firm’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders purchased a total of 2,485 shares of company stock valued at $874,786 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EG shares. Keefe, Bruyette & Woods upped their price objective on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley dropped their price objective 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. Wells Fargo & Company cut their price target on 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 target on the stock. Finally, Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Stock Up 0.6 %

EG opened at $372.07 on Friday. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 5.53, a price-to-earnings-growth 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. The firm’s fifty day moving average is $376.01 and its 200 day moving average is $378.94. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, April 29th. The company reported $16.32 EPS for the quarter, beating the consensus estimate of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The business’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the business earned $11.31 earnings per share. On average, sell-side analysts forecast that Everest Group, Ltd. will post 61.23 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid 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 1.88%. Everest Group’s payout ratio is 10.40%.

About Everest Group

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.