Cary Street Partners Investment Advisory LLC Invests $1.51 Million in Everest Group, Ltd. (NYSE:EG)

Cary Street Partners Investment Advisory LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,277 shares of the company’s stock, valued at approximately $1,512,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cozad Asset Management Inc. acquired a new position in Everest Group during the fourth quarter valued at $1,167,000. Kestra Private Wealth Services LLC purchased a new position in shares of Everest Group during the 4th quarter valued at about $1,929,000. Anchor Capital Advisors LLC acquired a new position in shares of Everest Group in the 4th quarter valued at about $2,260,000. Mather Group LLC. purchased a new stake in shares of Everest Group in the fourth quarter worth about $525,000. Finally, Retirement Systems of Alabama purchased a new stake in shares of Everest Group in the fourth quarter worth about $3,382,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the subject of a number of analyst reports. TD Cowen began coverage on Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target for the company. Wells Fargo & Company decreased their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley decreased their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Finally, Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Price Performance

EG stock traded down $4.97 during trading on Tuesday, hitting $364.14. The stock had a trading volume of 265,660 shares, compared to its average volume of 366,911. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The company’s 50-day moving average price is $375.88 and its two-hundred day moving average price is $379.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $19.39 billion, a P/E ratio of 5.99, a PEG ratio of 3.22 and a beta of 0.56.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the company posted $11.31 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. As a group, research analysts predict that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Monday, March 18th. Everest Group’s payout ratio is 11.72%.

Insider Transactions at Everest Group

In other Everest Group news, Director Roger M. Singer acquired 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the purchase, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Roger M. Singer purchased 500 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mike Karmilowicz acquired 285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $352.39 per share, with a total value of $100,431.15. Following the acquisition, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Insiders acquired 2,485 shares of company stock valued at $874,786 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

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.