CIBC Private Wealth Group LLC Makes New $860,000 Investment in Everest Group, Ltd. (NYSE:EG)

CIBC Private Wealth Group LLC bought a new position in Everest Group, Ltd. (NYSE:EGFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,431 shares of the company’s stock, valued at approximately $860,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP purchased a new stake in Everest Group in the 4th quarter worth approximately $25,000. Avior Wealth Management LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at $25,000. Janiczek Wealth Management LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at $28,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Morgan Stanley lowered their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company reduced 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 report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

Check Out Our Latest Report on EG

Everest Group Price Performance

EG stock opened at $382.81 on Monday. The firm has a market cap of $16.64 billion, a P/E ratio of 5.69, a P/E/G ratio of 3.36 and a beta of 0.62. Everest Group, Ltd. has a 52 week low of $331.08 and a 52 week high of $417.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s fifty day moving average is $378.35 and its 200 day moving average is $377.32.

Everest Group (NYSE:EGGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The company’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $11.31 EPS. Research analysts predict that Everest Group, Ltd. will post 61.65 earnings per share for the current year.

Everest Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders 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 a positive change from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio (DPR) is 11.89%.

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.

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

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