Cary Street Partners Asset Management LLC Invests $2.77 Million in Everest Group, Ltd. (NYSE:EG)

Cary Street Partners Asset Management LLC purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,845 shares of the company’s stock, valued at approximately $2,774,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP purchased a new position in shares of Everest Group during the fourth quarter worth $25,000. Avior Wealth Management LLC purchased a new position in shares of Everest Group during the fourth quarter worth $25,000. Headlands Technologies LLC purchased a new position in Everest Group in the fourth quarter valued at $25,000. Janiczek Wealth Management LLC purchased a new position in Everest Group in the fourth quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in Everest Group in the fourth quarter valued at $28,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EG has been the subject of a number of recent research reports. Morgan Stanley decreased their target price on 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 initiated coverage on Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $452.00 to $375.00 in a report on Monday, February 12th. Finally, Wells Fargo & Company decreased their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Insider Transactions at Everest Group

In other news, Director Roger M. Singer bought 500 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were acquired 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO James Allan Williamson purchased 700 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the transaction, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the transaction, the director now directly owns 16,920 shares in the company, valued at $6,043,993.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,485 shares of company stock worth $874,786. Corporate insiders own 1.20% of the company’s stock.

Everest Group Stock Up 1.6 %

NYSE EG traded up $5.87 during trading on Wednesday, reaching $372.28. 254,157 shares of the company’s stock were exchanged, compared to its average volume of 369,087. The stock has a market cap of $19.83 billion, a P/E ratio of 5.45, a price-to-earnings-growth ratio of 3.26 and a beta of 0.56. 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 50 day moving average price of $375.84 and a two-hundred day moving average price of $379.01. 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. Everest Group had a return on equity of 25.84% and a net margin of 18.69%. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the firm earned $11.31 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Announces Dividend

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. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is currently 10.40%.

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.