Cornerstone Select Advisors LLC Acquires New Holdings in Everest Group, Ltd. (NYSE:EG)

Cornerstone Select Advisors LLC bought a new position in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,244 shares of the company’s stock, valued at approximately $451,000.

Several other hedge funds also recently modified their holdings of EG. World Investment Advisors LLC acquired a new position in Everest Group during the third quarter worth $350,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Everest Group during the 3rd quarter valued at about $64,000. Principal Financial Group Inc. lifted its holdings in Everest Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after purchasing an additional 2,818 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Everest Group by 19.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after purchasing an additional 12,791 shares during the last quarter. Finally, Legend Financial Advisors Inc. boosted its position in Everest Group by 6.5% during the fourth quarter. Legend Financial Advisors Inc. now owns 1,860 shares of the company’s stock worth $674,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE EG opened at $345.65 on Wednesday. The firm has a 50-day moving average price of $353.35 and a two-hundred day moving average price of $358.86. The company has a market capitalization of $16.52 billion, a P/E ratio of 11.00, 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. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30.

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

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.31%. Everest Group’s dividend payout ratio is currently 41.15%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EG. Evercore ISI reduced their price objective on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. Raymond James restated a “strong-buy” rating and set a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday. Keefe, Bruyette & Woods decreased their target price on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group upgraded shares of Everest Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $397.18.

Insider Buying and Selling at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.