Edgestream Partners L.P. Acquires 5,240 Shares of Everest Group, Ltd. (NYSE:EG)

Edgestream Partners L.P. boosted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 280.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,109 shares of the company's stock after purchasing an additional 5,240 shares during the quarter. Edgestream Partners L.P.'s holdings in Everest Group were worth $2,577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EG. SBI Securities Co. Ltd. purchased a new position in Everest Group during the fourth quarter valued at $31,000. Brooklyn Investment Group purchased a new stake in Everest Group during the 3rd quarter valued at about $39,000. Private Trust Co. NA increased its stake 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the 3rd quarter valued at about $64,000. Finally, Avior Wealth Management LLC raised its holdings in Everest Group by 22.4% in the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company's stock worth $93,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

NYSE:EG traded up $1.53 during mid-day trading on Thursday, hitting $349.28. 430,394 shares of the company traded hands, compared to its average volume of 348,551. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock's fifty day moving average price is $351.95 and its 200-day moving average price is $368.93. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a one year low of $327.37 and a one year high of $407.30.

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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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 17th. Everest Group's dividend payout ratio (DPR) is 25.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EG shares. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. TD Cowen dropped their target price on shares of Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a report on Monday, November 18th. Jefferies Financial Group downgraded shares of Everest Group from a "buy" rating to a "hold" rating and lifted their target price for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Morgan Stanley reissued an "equal weight" rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Wells Fargo & Company cut their price objective on Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a report on Tuesday, January 14th. 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 data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $416.50.

Everest Group Company 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.