Victory Capital Management Inc. Buys New Shares in Everest Group, Ltd. (NYSE:EG)

Victory Capital Management Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 115,576 shares of the company’s stock, valued at approximately $40,865,000. Victory Capital Management Inc. owned about 0.27% of Everest Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EG. Assenagon Asset Management S.A. acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $1,866,000. Red Door Wealth Management LLC acquired a new position in Everest Group in the fourth quarter valued at $237,000. Uncommon Cents Investing LLC acquired a new stake in Everest Group during the fourth quarter worth approximately $1,016,000. Traynor Capital Management Inc. acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $466,000. Finally, Global Retirement Partners LLC bought a new stake in Everest Group in the fourth quarter valued at $102,000. Institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In related news, CEO Mike Karmilowicz purchased 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, for a total transaction of $100,431.15. Following the acquisition, the chief executive officer now owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Everest Group news, Director Roger M. Singer bought 500 shares of Everest Group stock in a transaction dated 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 purchase, the director now directly owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mike Karmilowicz purchased 285 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the purchase, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The disclosure for this purchase can be found here. Insiders bought a total of 2,485 shares of company stock valued at $874,786 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Everest Group Price Performance

EG stock opened at $369.65 on Monday. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.37 and a current ratio of 0.35. The company’s fifty day moving average price is $376.02 and its 200-day moving average price is $378.25. The company has a market capitalization of $19.69 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 3.25 and a beta of 0.57.

Everest Group (NYSE:EG) last issued its quarterly earnings data 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 return on equity of 24.86% and a net margin of 18.69%. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the business posted $11.31 earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts anticipate that Everest Group, Ltd. will post 61.49 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were paid a dividend of $1.75 per share. 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 presently 10.40%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EG. TD Cowen assumed 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. 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. Keefe, Bruyette & Woods increased their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Finally, Morgan Stanley cut their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $432.11.

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.