Cambridge Trust Co. Purchases New Shares in Everest Group, Ltd. (NYSE:EG)

Cambridge Trust Co. purchased a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 90 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EG. Allworth Financial LP acquired a new stake in Everest Group during the 4th quarter worth about $25,000. Avior Wealth Management LLC acquired a new stake in Everest Group during the 4th quarter worth about $25,000. Janiczek Wealth Management LLC acquired a new stake in Everest Group during the 4th quarter worth about $27,000. Trifecta Capital Advisors LLC acquired a new stake in Everest Group during the 4th quarter worth about $28,000. Finally, Toth Financial Advisory Corp acquired a new stake in Everest Group during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE EG opened at $370.26 on Friday. 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 business’s 50 day moving average is $375.96 and its two-hundred day moving average is $380.16. The company has a market cap of $19.72 billion, a P/E ratio of 6.20, a P/E/G ratio of 3.18 and a beta of 0.56. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92.

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

Everest Group Dividend Announcement

The company also recently disclosed 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. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. 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 report on Monday, February 12th. Keefe, Bruyette & Woods lifted their price target on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. 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 report on Thursday, April 11th. TD Cowen assumed coverage on Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target for the company. Finally, 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 report on Monday, April 15th. Three 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

Insider Activity

In other news, CFO Mark Kociancic acquired 1,000 shares of the stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the transaction, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Mark Kociancic purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price 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 in the company, valued at $8,980,817. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger M. Singer purchased 500 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,485 shares of company stock worth $874,786. Company insiders own 1.40% of the company’s stock.

About Everest Group

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.