D. E. Shaw & Co. Inc. Purchases New Shares in Everest Group, Ltd. (NYSE:EG)

D. E. Shaw & Co. Inc. acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,050 shares of the company’s stock, valued at approximately $5,093,000.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Everest Group in the fourth quarter worth $31,000. Optiver Holding B.V. purchased a new position in shares of Everest Group in the 4th quarter worth about $51,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Everest Group by 19.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock worth $71,000 after buying an additional 32 shares during the last quarter. Private Trust Co. NA grew its position in Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after buying an additional 64 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after buying an additional 64 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Up 1.3%

Shares of EG opened at $348.22 on Friday. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The stock has a market cap of $14.81 billion, a PE ratio of 11.09, a P/E/G ratio of 0.24 and a beta of 0.58. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $351.38 and its 200-day moving average price is $356.96.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the company posted $16.32 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. Everest Group’s payout ratio is currently 41.15%.

Analysts Set New Price Targets

A number of research firms have weighed in on EG. Wells Fargo & Company dropped their target price on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Barclays dropped their price target on Everest Group from $470.00 to $394.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, UBS Group decreased their price objective on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Everest Group presently has an average rating of “Moderate Buy” and a consensus target price of $397.18.

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on 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 sale, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

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.