Catalyst Funds Management Pty Ltd Raises Stake in Everest Group, Ltd. (NYSE:EG)

Catalyst Funds Management Pty Ltd raised its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 600.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,400 shares of the company's stock after acquiring an additional 1,200 shares during the quarter. Catalyst Funds Management Pty Ltd's holdings in Everest Group were worth $507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Everest Group in the fourth quarter worth $31,000. Brooklyn Investment Group bought a new position in Everest Group in the 3rd quarter worth about $39,000. Private Trust Co. NA grew its position in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company's stock valued at $52,000 after purchasing an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Everest Group during the 3rd quarter valued at about $64,000. Finally, EverSource Wealth Advisors LLC increased its stake in Everest Group by 43.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

Shares of NYSE:EG traded down $4.12 during trading on Tuesday, hitting $360.94. The company's stock had a trading volume of 148,017 shares, compared to its average volume of 346,657. The company has a 50-day moving average of $351.63 and a 200-day moving average of $368.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30.

Remove Ads

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, sell-side analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Monday, March 17th. Everest Group's dividend payout ratio is presently 25.47%.

Analysts Set New Price Targets

A number of research firms have recently commented on EG. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a report on Friday, January 10th. TD Cowen cut their target price on Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a research note on Monday, November 18th. Morgan Stanley restated an "equal weight" rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. BMO Capital Markets cut Everest Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Wells Fargo & Company decreased their target price on Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Everest Group presently has an average rating of "Hold" and a consensus price target of $416.50.

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.