JPMorgan Chase & Co. Purchases 31,306 Shares of Everest Group, Ltd. (NYSE:EG)

JPMorgan Chase & Co. increased its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 39.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 109,775 shares of the company's stock after purchasing an additional 31,306 shares during the period. JPMorgan Chase & Co. owned 0.26% of Everest Group worth $39,789,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Everest Group in the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB acquired a new position in Everest Group in the 3rd quarter valued at about $64,000. Private Trust Co. NA raised its holdings in Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company's stock valued at $71,000 after acquiring an additional 64 shares during the period. EverSource Wealth Advisors LLC lifted its position in Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock worth $76,000 after acquiring an additional 64 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Everest Group by 22.4% during the fourth 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 period. Institutional investors and hedge funds own 92.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group dropped their price target on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday. BMO Capital Markets downgraded Everest Group from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley reissued an "equal weight" rating and issued a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Barclays cut their price objective on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Everest Group has an average rating of "Hold" and a consensus price target of $396.00.

Remove Ads

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by insiders.

Everest Group Price Performance

Shares of NYSE:EG traded up $8.39 during midday trading on Friday, hitting $349.79. The stock had a trading volume of 383,665 shares, compared to its average volume of 370,600. The company's 50-day moving average price is $348.82 and its 200-day moving average price is $363.47. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week 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 0.26. The company has a market capitalization of $16.71 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43.

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%. As a group, equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.29%. Everest Group's dividend payout ratio is currently 25.47%.

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.