OLD National Bancorp IN Makes New $2.07 Million Investment in Everest Group, Ltd. (NYSE:EG)

OLD National Bancorp IN purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,851 shares of the company’s stock, valued at approximately $2,069,000.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP acquired a new position in shares of Everest Group during the 4th quarter worth approximately $25,000. Avior Wealth Management LLC bought a new position in shares of Everest Group during the 4th quarter worth approximately $25,000. Janiczek Wealth Management LLC bought a new position in shares of Everest Group during the 4th quarter worth approximately $27,000. Trifecta Capital Advisors LLC bought a new position in shares of Everest Group during the 4th quarter worth approximately $28,000. Finally, DT Investment Partners LLC bought a new position in shares of Everest Group during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Activity at Everest Group

In other Everest Group news, CEO Mike Karmilowicz bought 285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the transaction, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mike Karmilowicz purchased 285 shares of the business’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the acquisition, the chief executive officer now owns 10,586 shares in the company, valued at $3,730,400.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Kociancic acquired 1,000 shares of Everest Group stock in a transaction on Friday, February 9th. The stock was purchased at an average cost of $349.00 per share, with a total value of $349,000.00. Following the purchase, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,485 shares of company stock worth $874,786 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Everest Group Price Performance

Shares of EG opened at $372.63 on Tuesday. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92. The business has a 50-day simple moving average of $376.19 and a two-hundred day simple moving average of $380.08. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $19.85 billion, a PE ratio of 6.24, a PEG ratio of 3.27 and a beta of 0.56.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the company posted $12.21 EPS. The business’s revenue was up 12.4% on a year-over-year basis. Analysts anticipate that Everest Group, Ltd. will post 61.21 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date was Monday, March 18th. This represents a $7.00 annualized dividend and a dividend yield of 1.88%. Everest Group’s payout ratio is 11.72%.

Wall Street Analyst Weigh In

EG has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on 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. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Morgan Stanley reduced their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, TD Cowen initiated coverage on Everest Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $432.11.

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.