Empirical Asset Management LLC Invests $11.08 Million in Everest Group, Ltd. (NYSE:EG)

Empirical Asset Management LLC acquired a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,581 shares of the company's stock, valued at approximately $11,084,000. Empirical Asset Management LLC owned 0.07% of Everest Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EG. Steph & Co. boosted its position in Everest Group by 10.6% during the 4th quarter. Steph & Co. now owns 366 shares of the company's stock valued at $133,000 after acquiring an additional 35 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Everest Group during the fourth quarter valued at about $417,000. Elevated Capital Advisors LLC grew its stake in Everest Group by 6.1% in the fourth quarter. Elevated Capital Advisors LLC now owns 2,193 shares of the company's stock valued at $795,000 after purchasing an additional 127 shares during the last quarter. Wedmont Private Capital raised its holdings in Everest Group by 15.0% in the fourth quarter. Wedmont Private Capital now owns 734 shares of the company's stock worth $259,000 after purchasing an additional 96 shares in the last quarter. Finally, Czech National Bank lifted its position in shares of Everest Group by 5.7% during the fourth quarter. Czech National Bank now owns 9,319 shares of the company's stock valued at $3,378,000 after buying an additional 504 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

Shares of NYSE:EG traded up $2.36 during trading on Friday, hitting $362.60. The stock had a trading volume of 370,655 shares, compared to its average volume of 352,778. The stock has a 50-day simple moving average of $367.92 and a two-hundred day simple moving average of $376.28. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group's dividend payout ratio (DPR) is currently 12.52%.

Insider Activity

In related news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction on Monday, November 4th. The stock was bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EG shares. BMO Capital Markets raised shares of Everest Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $372.00 to $453.00 in a research report on Friday, January 10th. Jefferies Financial Group downgraded Everest Group from a "buy" rating to a "hold" rating and upped their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. UBS Group raised Everest Group to a "hold" rating in a research report on Wednesday, October 9th. Barclays reduced their target price on Everest Group from $517.00 to $499.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Finally, Bank of America dropped their price target on Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $435.44.

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.