Lighthouse Investment Partners LLC Purchases 11,577 Shares of Everest Group, Ltd. (NYSE:EG)

Lighthouse Investment Partners LLC grew its position in Everest Group, Ltd. (NYSE:EG) by 59.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,014 shares of the company’s stock after purchasing an additional 11,577 shares during the quarter. Lighthouse Investment Partners LLC owned approximately 0.07% of Everest Group worth $11,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of EG. SBI Securities Co. Ltd. bought a new position in shares of Everest Group in the fourth quarter worth approximately $31,000. Optiver Holding B.V. bought a new position in shares of Everest Group in the fourth quarter worth approximately $51,000. Wilmington Savings Fund Society FSB boosted its position in shares of Everest Group by 19.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock worth $71,000 after purchasing an additional 32 shares during the period. Private Trust Co. NA boosted its position in shares of Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after purchasing an additional 64 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 64 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EG. UBS Group cut their target price on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Evercore ISI cut their target price 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $397.18.

Everest Group Price Performance

EG stock opened at $347.74 on Monday. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. 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 company has a fifty day simple moving average of $352.77 and a two-hundred day simple moving average of $357.82. The firm has a market capitalization of $14.79 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58.

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

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were issued a $2.00 dividend. The ex-dividend date was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. Everest Group’s dividend payout ratio (DPR) is presently 41.15%.

Insider Transactions at Everest Group

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