New Age Alpha Advisors LLC Makes New Investment in Everest Group, Ltd. (NYSE:EG)

New Age Alpha Advisors LLC purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,610 shares of the company’s stock, valued at approximately $8,920,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Everest Group during the 4th quarter worth approximately $488,588,000. UniSuper Management Pty Ltd increased its holdings in shares of Everest Group by 29.4% in the 4th quarter. UniSuper Management Pty Ltd now owns 6,062 shares of the company’s stock valued at $2,197,000 after purchasing an additional 1,379 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Everest Group by 39.9% during the 4th quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company’s stock worth $39,789,000 after acquiring an additional 31,306 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Everest Group in the 4th quarter worth approximately $5,842,000. Finally, Artisan Partners Limited Partnership acquired a new stake in Everest Group in the 4th quarter valued at about $4,809,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Up 0.5 %

NYSE EG opened at $368.16 on Friday. 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 fifty-two week low of $327.37 and a fifty-two week high of $407.30. The business has a 50 day moving average price of $351.46 and a two-hundred day moving average price of $366.73. The stock has a market cap of $15.81 billion, a PE ratio of 11.72, a P/E/G ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, sell-side analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a dividend of $2.00 per share. The ex-dividend date is Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.17%. Everest Group’s dividend payout ratio is presently 25.47%.

Analysts Set New Price Targets

A number of equities research analysts have commented on EG shares. Barclays increased their target price on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Wells Fargo & Company lowered their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $416.50.

Insider Buying and Selling at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group 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 transaction, the director now directly owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate 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.