Handelsbanken Fonder AB Invests $2.12 Million in Everest Group, Ltd. (NYSE:EG)

Handelsbanken Fonder AB acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, HoldingsChannel reports. The fund acquired 5,991 shares of the company’s stock, valued at approximately $2,118,000.

Other large investors also recently modified their holdings of the company. CWM LLC purchased a new position in Everest Group during the 4th quarter worth $19,340,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Everest Group during the 4th quarter worth $1,527,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Everest Group during the 4th quarter worth $904,000. Signaturefd LLC purchased a new position in Everest Group during the 4th quarter worth $59,000. Finally, Lindbrook Capital LLC purchased a new position in Everest Group during the 4th quarter worth $37,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EG shares. Morgan Stanley cut their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. TD Cowen initiated coverage on shares of Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective on the stock. Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Keefe, Bruyette & Woods lifted their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Trading Down 0.3 %

Shares of Everest Group stock opened at $364.70 on Friday. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The stock’s 50-day simple moving average is $375.92 and its 200 day simple moving average is $379.71. The stock has a market capitalization of $19.42 billion, a P/E ratio of 6.11, a P/E/G ratio of 3.23 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the business posted $12.21 EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Everest Group, Ltd. will post 61.23 EPS for the current year.

Everest Group Dividend Announcement

The business 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. This represents a $7.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

Insider Activity

In related news, COO James Allan Williamson purchased 700 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the transaction, the chief operating officer now directly owns 11,749 shares in the company, valued at approximately $4,141,522.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO James Allan Williamson purchased 700 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the transaction, the chief operating officer now directly owns 11,749 shares in the company, valued at approximately $4,141,522.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mike Karmilowicz acquired 285 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $352.39 per share, with a total value of $100,431.15. Following the acquisition, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,485 shares of company stock worth $874,786 over the last ninety days. Company insiders own 1.20% 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.