ExodusPoint Capital Management LP Raises Stock Holdings in Everest Group, Ltd. (NYSE:EG)

ExodusPoint Capital Management LP lifted its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 1,157.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,676 shares of the company's stock after purchasing an additional 9,827 shares during the quarter. ExodusPoint Capital Management LP's holdings in Everest Group were worth $3,870,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EG. Norges Bank bought a new position in Everest Group in the fourth quarter valued at $488,588,000. Raymond James Financial Inc. bought a new position in shares of Everest Group during the 4th quarter valued at about $48,290,000. Truist Financial Corp raised its holdings in shares of Everest Group by 7,580.7% during the 4th quarter. Truist Financial Corp now owns 92,936 shares of the company's stock valued at $33,686,000 after buying an additional 91,726 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Everest Group by 10.5% during the 4th quarter. William Blair Investment Management LLC now owns 642,813 shares of the company's stock valued at $232,994,000 after buying an additional 61,026 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Everest Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after buying an additional 43,793 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction dated 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 directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by insiders.

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Everest Group Trading Up 2.5 %

Shares of EG stock traded up $8.39 during mid-day trading on Friday, reaching $349.79. The stock had a trading volume of 383,665 shares, compared to its average volume of 370,600. The firm has a market capitalization of $16.71 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The stock's 50-day moving average price is $348.82 and its two-hundred day moving average price is $363.47. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results 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%. Equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

Analyst Ratings Changes

EG has been the topic of several research reports. UBS Group decreased their price target on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research note on Wednesday. Barclays decreased their target price on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research report on Friday. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and cut their price target for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $376.00 to $415.00 in a research note on Friday. Finally, Wells Fargo & Company lowered their target price on Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a research note on Thursday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $396.00.

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.