Anchor Capital Advisors LLC Invests $2.26 Million in Everest Group, Ltd. (NYSE:EG)

Anchor Capital Advisors LLC acquired a new position in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,391 shares of the company’s stock, valued at approximately $2,260,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Everest Group during the fourth quarter worth approximately $25,000. Avior Wealth Management LLC acquired a new stake in shares of Everest Group during the 4th quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in shares of Everest Group during the 4th quarter worth $25,000. Janiczek Wealth Management LLC bought a new stake in Everest Group during the fourth quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at about $28,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Everest Group

In other news, Director Roger M. Singer purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the purchase, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Everest Group news, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $357.21 per share, with a total value of $178,605.00. Following the acquisition, 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 legal filing with the SEC, which is available at this link. Also, COO James Allan Williamson bought 700 shares of the company’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $352.50 per share, with a total value of $246,750.00. Following the transaction, the chief operating officer now directly owns 11,749 shares in the company, valued at approximately $4,141,522.50. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,485 shares of company stock valued at $874,786. Corporate insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

EG traded down $9.99 during trading on Tuesday, hitting $359.12. 126,376 shares of the stock were exchanged, compared to its average volume of 365,338. The firm has a market capitalization of $19.13 billion, a P/E ratio of 6.18, a PEG ratio of 3.22 and a beta of 0.56. The stock has a fifty day moving average price of $375.85 and a two-hundred day moving average price of $379.41. 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 1-year low of $331.08 and a 1-year high of $417.92.

Everest Group (NYSE:EG) last posted its earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. Everest Group’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $11.31 earnings per share. As a group, sell-side analysts predict that Everest Group, Ltd. will post 61.23 earnings per share for the current 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 given a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.95%. Everest Group’s payout ratio is currently 11.72%.

Analyst Ratings Changes

A number of brokerages recently commented on EG. Keefe, Bruyette & Woods upped their target price on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley reduced 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. 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. Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $452.00 to $375.00 in a report on Monday, February 12th. Finally, 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. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $432.11.

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.