Virtu Financial LLC Purchases New Shares in Everest Group, Ltd. (NYSE:EG)

Virtu Financial LLC acquired a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,790 shares of the company's stock, valued at approximately $1,011,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. World Investment Advisors LLC acquired a new position in Everest Group in the 3rd quarter worth about $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Everest Group by 442.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company's stock valued at $120,744,000 after acquiring an additional 251,337 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Everest Group in the fourth quarter valued at approximately $48,290,000. Truist Financial Corp lifted its stake in Everest Group by 7,580.7% in the fourth quarter. Truist Financial Corp now owns 92,936 shares of the company's stock valued at $33,686,000 after acquiring an additional 91,726 shares during the last quarter. Finally, FMR LLC grew its position in Everest Group by 21.5% in the third quarter. FMR LLC now owns 410,861 shares of the company's stock worth $160,988,000 after acquiring an additional 72,822 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction 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 approximately $4,428,175.77. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EG shares. Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $420.00 to $434.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. BMO Capital Markets downgraded Everest Group from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Wells Fargo & Company cut their price objective on 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. Barclays upped their target price on Everest Group from $461.00 to $470.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $416.50.

Everest Group Stock Performance

Shares of Everest Group stock traded up $2.00 during midday trading on Thursday, hitting $368.16. The company had a trading volume of 268,330 shares, compared to its average volume of 350,542. The stock has a market cap of $15.81 billion, a PE ratio of 11.72, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 1-year low of $327.37 and a 1-year high of $407.30. The business's 50 day simple moving average is $351.30 and its two-hundred day simple moving average is $366.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company 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. The ex-dividend date is Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.17%. Everest Group's dividend payout ratio (DPR) is 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.