Artisan Partners Limited Partnership Invests $4.81 Million in Everest Group, Ltd. (NYSE:EG)

Artisan Partners Limited Partnership bought a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,267 shares of the company's stock, valued at approximately $4,809,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC purchased a new stake in shares of Everest Group in the third quarter valued at approximately $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Everest Group by 442.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company's stock worth $120,744,000 after buying an additional 251,337 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Everest Group during the fourth quarter valued at $48,290,000. Truist Financial Corp raised its holdings in shares of Everest Group by 7,580.7% in the fourth quarter. Truist Financial Corp now owns 92,936 shares of the company's stock valued at $33,686,000 after acquiring an additional 91,726 shares in the last quarter. Finally, FMR LLC lifted its stake in Everest Group by 21.5% in the third quarter. FMR LLC now owns 410,861 shares of the company's stock worth $160,988,000 after acquiring an additional 72,822 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Performance

Shares of NYSE EG traded down $5.56 during mid-day trading on Thursday, hitting $359.78. The stock had a trading volume of 39,293 shares, compared to its average volume of 424,960. The company has a 50 day moving average of $351.50 and a two-hundred day moving average of $366.15. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $15.45 billion, a PE ratio of 11.45, a PEG ratio of 0.24 and a beta of 0.61.

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Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, March 17th. Everest Group's dividend payout ratio (DPR) is 25.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EG shares. Wells Fargo & Company reduced their price target on shares of Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a report on Tuesday, January 14th. BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley reiterated an "equal weight" rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Keefe, Bruyette & Woods raised their price objective on Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Finally, Barclays boosted their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $416.50.

Insider Activity at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company's stock.

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.