Intech Investment Management LLC Purchases 36,384 Shares of Everest Group, Ltd. (NYSE:EG)

Intech Investment Management LLC lifted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 133.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,708 shares of the company's stock after acquiring an additional 36,384 shares during the quarter. Intech Investment Management LLC owned approximately 0.15% of Everest Group worth $23,092,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several research analysts have recently commented on EG shares. Morgan Stanley restated an "equal weight" rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Jefferies Financial Group lowered shares of Everest Group from a "buy" rating to a "hold" rating and increased their price target for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company dropped their price target on shares of Everest Group from $390.00 to $380.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $416.50.

Remove Ads

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company's stock.

Everest Group Stock Performance

NYSE:EG traded down $1.61 during midday trading on Friday, reaching $353.19. The stock had a trading volume of 1,348,612 shares, compared to its average volume of 350,464. Everest Group, Ltd. has a 1-year low of $327.37 and a 1-year high of $407.30. The firm's fifty day simple moving average is $350.90 and its 200-day simple moving average is $367.45. 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 stock has a market capitalization of $15.16 billion, a P/E ratio of 11.24, a PEG ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG - Get Free Report) last posted its 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%. On average, equities research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal 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 $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Monday, March 17th. Everest Group's dividend payout ratio (DPR) is presently 25.47%.

About Everest Group

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.