Sequoia Financial Advisors LLC Acquires Shares of 713 Everest Group, Ltd. (NYSE:EG)

Sequoia Financial Advisors LLC acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 713 shares of the company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Uncommon Cents Investing LLC purchased a new stake in shares of Everest Group during the 4th quarter worth approximately $1,016,000. Oak Thistle LLC purchased a new position in Everest Group in the 4th quarter valued at approximately $2,717,000. Synergy Asset Management LLC purchased a new position in Everest Group in the 4th quarter valued at approximately $9,914,000. State of Alaska Department of Revenue purchased a new position in Everest Group in the 4th quarter valued at approximately $5,821,000. Finally, Assenagon Asset Management S.A. purchased a new position in Everest Group in the 4th quarter valued at approximately $1,866,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EG shares. Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Wells Fargo & Company cut their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Morgan Stanley cut their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. TD Cowen started coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.11.

Everest Group Stock Performance

NYSE EG opened at $370.26 on Friday. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization 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. The company has a fifty day moving average of $375.96 and a 200-day moving average of $380.16.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the previous year, the firm posted $12.21 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts predict that Everest Group, Ltd. will post 61.21 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

Insiders Place Their Bets

In other Everest Group news, Director Roger M. Singer purchased 500 shares of the stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $357.21 per share, with a total value of $178,605.00. Following the completion of the purchase, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Roger M. Singer acquired 500 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the transaction, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mike Karmilowicz acquired 285 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the purchase, the chief executive officer now 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 acquired 2,485 shares of company stock valued at $874,786 over the last three months. Insiders own 1.40% 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.