Renaissance Technologies LLC Increases Stock Position in Everest Group, Ltd. (NYSE:EG)

Renaissance Technologies LLC increased its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 42.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,200 shares of the company's stock after buying an additional 21,900 shares during the period. Renaissance Technologies LLC owned about 0.17% of Everest Group worth $26,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in EG. Norges Bank acquired a new stake in Everest Group in the 4th quarter worth approximately $488,588,000. Donald Smith & CO. Inc. purchased a new position in shares of Everest Group during the 4th quarter valued at approximately $56,341,000. Raymond James Financial Inc. acquired a new stake in shares of Everest Group during the 4th quarter valued at about $48,290,000. Invesco Ltd. increased its stake in shares of Everest Group by 17.2% in the 4th quarter. Invesco Ltd. now owns 855,120 shares of the company's stock valued at $309,947,000 after purchasing an additional 125,271 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Everest Group by 352.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 153,938 shares of the company's stock valued at $55,796,000 after purchasing an additional 119,944 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the business's 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 transaction, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EG has been the topic of several research analyst reports. Barclays dropped their price objective on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Wells Fargo & Company dropped their target price on shares of Everest Group from $370.00 to $362.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group reduced their price target on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Everest Group currently has an average rating of "Hold" and a consensus target price of $396.00.

Everest Group Price Performance

Shares of NYSE:EG traded up $2.38 during midday trading on Friday, hitting $349.98. The company's stock had a trading volume of 355,872 shares, compared to its average volume of 371,116. The company has a market cap of $16.72 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, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The business's 50 day simple moving average is $349.90 and its 200 day simple moving average is $362.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) 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, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Monday, March 17th. Everest Group's dividend payout ratio (DPR) is currently 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.