CIBC Asset Management Inc Purchases New Position in Everest Group, Ltd. (NYSE:EG)

CIBC Asset Management Inc purchased a new stake in Everest Group, Ltd. (NYSE:EGFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,617 shares of the company’s stock, valued at approximately $1,986,000.

Several other institutional investors have also bought and sold shares of EG. Franklin Resources Inc. acquired a new stake in Everest Group in the 4th quarter valued at $373,130,000. Boston Partners acquired a new stake in Everest Group in the 4th quarter valued at $328,064,000. Norges Bank acquired a new position in Everest Group in the fourth quarter worth $202,271,000. Dimensional Fund Advisors LP acquired a new position in Everest Group in the fourth quarter worth $173,587,000. Finally, LSV Asset Management acquired a new position in Everest Group in the fourth quarter worth $168,328,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on EG shares. Morgan Stanley reduced their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on 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. 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 research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

View Our Latest Report on EG

Everest Group Trading Up 0.8 %

EG stock opened at $382.81 on Friday. The company has a market cap of $16.64 billion, a P/E ratio of 5.69, a PEG ratio of 3.33 and a beta of 0.62. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $378.65 and a 200-day moving average of $377.64.

Everest Group (NYSE:EGGet Free Report) last released its quarterly earnings data on Monday, April 29th. The company reported $16.32 EPS for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. The business had revenue of $4.13 billion during 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 firm’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.31 earnings per share. As a group, equities research analysts expect that Everest Group, Ltd. will post 61.65 EPS for the current year.

Everest Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 29th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, May 29th. This is an increase from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio is currently 11.89%.

Everest Group Company 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.

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

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