LPL Financial LLC Buys 8,675 Shares of Everest Group, Ltd. (NYSE:EG)

LPL Financial LLC grew its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 37.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,988 shares of the company's stock after acquiring an additional 8,675 shares during the period. LPL Financial LLC owned 0.07% of Everest Group worth $11,594,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Everest Group during the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Everest Group in the 3rd quarter worth about $64,000. Private Trust Co. NA raised its stake in Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company's stock valued at $71,000 after buying an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after buying an additional 64 shares during the last quarter. Finally, Avior Wealth Management LLC raised 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 valued at $93,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets downgraded Everest Group from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley reiterated an "equal weight" rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Wells Fargo & Company cut their target price on shares of Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. 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 report on Friday, January 10th. Finally, Barclays lifted their price target on shares of Everest Group from $461.00 to $470.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. 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 MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $416.50.

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Everest Group Price Performance

Shares of EG stock traded up $4.45 on Tuesday, hitting $330.89. 406,469 shares of the stock traded hands, compared to its average volume of 369,830. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.24 and a beta of 0.43. 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 firm has a 50 day simple moving average of $348.81 and a two-hundred day simple moving average of $364.37. 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 released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts' consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, equities research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.42%. Everest Group's dividend payout ratio (DPR) is 25.47%.

Insider Activity

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

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.