Cutter & CO Brokerage Inc. Buys New Stake in Everest Group, Ltd. (NYSE:EG)

Cutter & CO Brokerage Inc. purchased a new position in Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 874 shares of the company’s stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EG. California Public Employees Retirement System bought a new position in shares of Everest Group in the fourth quarter worth about $58,360,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Everest Group during the fourth quarter worth $39,992,000. Zweig DiMenna Associates LLC acquired a new stake in Everest Group in the fourth quarter valued at $35,503,000. Allspring Global Investments Holdings LLC bought a new position in shares of Everest Group in the fourth quarter valued at about $31,810,000. Finally, Strs Ohio bought a new position in shares of Everest Group in the fourth quarter valued at about $23,980,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Everest Group

In other Everest Group news, Director Roger M. Singer acquired 500 shares of the stock in a transaction on Monday, February 12th. The shares were bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Everest Group news, Director Roger M. Singer purchased 500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the acquisition, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Kociancic purchased 1,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $349.00 per share, with a total value of $349,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,733 shares in the company, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,485 shares of company stock worth $874,786. Company insiders own 1.20% of the company’s stock.

Everest Group Stock Down 0.6 %

Shares of NYSE:EG traded down $2.33 on Wednesday, reaching $366.34. The company had a trading volume of 149,138 shares, compared to its average volume of 366,626. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The firm’s 50 day simple moving average is $376.19 and its 200-day simple moving average is $380.08. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $19.51 billion, a PE ratio of 6.17, a PEG ratio of 3.29 and a beta of 0.56.

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

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a dividend yield of 1.91%. Everest Group’s dividend payout ratio is currently 11.72%.

Everest Group Company 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.