Robertson Stephens Wealth Management LLC Takes Position in Everest Group, Ltd. (NYSE:EG)

Robertson Stephens Wealth Management LLC acquired a new position in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,314 shares of the company’s stock, valued at approximately $2,233,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. New York State Common Retirement Fund bought a new stake in shares of Everest Group during the 4th quarter valued at $13,273,000. Everence Capital Management Inc. bought a new stake in Everest Group in the fourth quarter valued at about $1,004,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Everest Group in the fourth quarter valued at about $904,000. Daiwa Securities Group Inc. bought a new position in Everest Group during the fourth quarter worth about $1,400,000. Finally, Uncommon Cents Investing LLC acquired a new position in shares of Everest Group during the 4th quarter worth about $1,016,000. 92.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Roger M. Singer bought 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the acquisition, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Mark Kociancic purchased 1,000 shares of Everest Group stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Roger M. Singer purchased 500 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,485 shares of company stock worth $874,786. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Everest Group Stock Down 0.1 %

Shares of NYSE:EG traded down $0.54 during midday trading on Thursday, reaching $369.36. 118,693 shares of the company were exchanged, compared to its average volume of 369,779. The firm has a market cap of $19.67 billion, a PE ratio of 5.50, a P/E/G ratio of 3.23 and a beta of 0.57. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. The stock has a fifty day simple moving average of $376.01 and a two-hundred day simple moving average of $378.94. The company has a quick ratio of 0.37, a current ratio of 0.35 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last released its 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. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.31 EPS. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 61.23 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is presently 10.40%.

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.