Robertson Stephens Wealth Management LLC Invests $2.23 Million in Everest Group, Ltd. (NYSE:EG)

Robertson Stephens Wealth Management LLC bought a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,314 shares of the company’s stock, valued at approximately $2,233,000.

Several other hedge funds have also modified their holdings of the stock. California Public Employees Retirement System purchased a new position in Everest Group in the 4th quarter valued at about $58,360,000. Victory Capital Management Inc. purchased a new position in Everest Group in the fourth quarter valued at about $40,865,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Everest Group during the 4th quarter valued at approximately $39,992,000. Zweig DiMenna Associates LLC acquired a new stake in Everest Group during the 4th quarter valued at approximately $35,503,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Everest Group during the 4th quarter worth approximately $31,810,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EG. Keefe, Bruyette & Woods increased 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. 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 for the company. Wells Fargo & Company dropped their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Morgan Stanley reduced their price target 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. Finally, Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $452.00 to $375.00 in a report on Monday, February 12th. Three 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Everest Group Stock Performance

NYSE:EG traded down $0.54 during midday trading on Thursday, reaching $369.36. 118,693 shares of the company traded hands, compared to its average volume of 369,779. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.37. The company has a fifty day moving average price of $376.01 and a 200 day moving average price of $378.94. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 3.23 and a beta of 0.57.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.31 EPS. On average, analysts expect that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is presently 10.40%.

Insider Activity

In other Everest Group news, CEO Mike Karmilowicz bought 285 shares of Everest Group stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Everest Group news, Director Roger M. Singer acquired 500 shares of Everest Group 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 purchase, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mike Karmilowicz purchased 285 shares of Everest Group stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the transaction, 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 worth $874,786 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

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.