OLD National Bancorp IN Invests $2.07 Million in Everest Group, Ltd. (NYSE:EG)

OLD National Bancorp IN bought a new position in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,851 shares of the company’s stock, valued at approximately $2,069,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Everence Capital Management Inc. purchased a new stake in Everest Group during the 4th quarter valued at about $1,004,000. Uncommon Cents Investing LLC purchased a new stake in Everest Group during the 4th quarter valued at about $1,016,000. Mackenzie Financial Corp purchased a new stake in Everest Group during the 4th quarter valued at about $15,446,000. Oak Thistle LLC purchased a new stake in Everest Group during the 4th quarter valued at about $2,717,000. Finally, Synergy Asset Management LLC purchased a new stake in Everest Group during the 4th quarter valued at about $9,914,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EG has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Wells Fargo & Company cut their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. 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 target on the stock. Finally, Citigroup downgraded shares of Everest Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $452.00 to $375.00 in a report on Monday, February 12th. Three research 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’s stock. According to MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Insider Activity

In other Everest Group news, CEO Mike Karmilowicz bought 285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the transaction, the chief executive officer now owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO James Allan Williamson purchased 700 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the acquisition, the chief operating officer now owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mike Karmilowicz purchased 285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased 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 directly owns 10,586 shares in the company, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,485 shares of company stock worth $874,786. 1.20% of the stock is currently owned by corporate insiders.

Everest Group Trading Up 0.6 %

NYSE:EG opened at $372.63 on Tuesday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92. The company has a market cap of $19.85 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 3.27 and a beta of 0.56. The company has a 50 day simple moving average of $376.19 and a two-hundred day simple moving average of $380.08.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. Everest Group’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $12.21 EPS. Research analysts forecast that Everest Group, Ltd. will post 61.21 earnings per share for the current year.

Everest Group Dividend Announcement

The business 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 1.88%. The ex-dividend date was Monday, March 18th. Everest Group’s payout ratio is currently 11.72%.

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.