Signaturefd LLC Buys New Position in Everest Group, Ltd. (NYSE:EG)

Signaturefd LLC purchased a new position in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 168 shares of the company’s stock, valued at approximately $59,000.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP bought a new position in shares of Everest Group in the fourth quarter worth approximately $25,000. Avior Wealth Management LLC bought a new position in shares of Everest Group in the fourth quarter worth approximately $25,000. Janiczek Wealth Management LLC purchased a new position in shares of Everest Group in the fourth quarter worth $27,000. Trifecta Capital Advisors LLC purchased a new position in shares of Everest Group in the fourth quarter worth $28,000. Finally, DT Investment Partners LLC purchased a new position in shares of Everest Group in the fourth quarter worth $31,000. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

Everest Group stock opened at $369.90 on Thursday. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 5.50, a PEG ratio of 3.26 and a beta of 0.56. The firm’s fifty day moving average is $375.84 and its 200 day moving average is $379.01. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 25.84%. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the firm earned $11.31 earnings per share. Everest Group’s revenue was up 25.8% on a year-over-year basis. Sell-side analysts forecast that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is currently 10.40%.

Wall Street Analysts Forecast Growth

EG has been the topic of several research analyst reports. Morgan Stanley lowered their target price 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 issued a “market perform” rating and a $421.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Citigroup downgraded shares of 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 report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Insider Activity

In other news, CEO Mike Karmilowicz bought 285 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were acquired at an average price 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 in the company, valued at approximately $3,730,400.54. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Roger M. Singer purchased 500 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the acquisition, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mike Karmilowicz purchased 285 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the acquisition, 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. Over the last quarter, insiders have bought 2,485 shares of company stock valued at $874,786. 1.20% of the stock is currently owned by company insiders.

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.