Handelsbanken Fonder AB Makes New Investment in Everest Group, Ltd. (NYSE:EG)

Handelsbanken Fonder AB purchased a new position in Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,991 shares of the company’s stock, valued at approximately $2,118,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EG. Allworth Financial LP acquired a new stake in Everest Group in the 4th quarter worth $25,000. Avior Wealth Management LLC acquired a new stake in Everest Group in the 4th quarter worth $25,000. Janiczek Wealth Management LLC acquired a new stake in Everest Group in the 4th quarter worth $27,000. Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group during the 4th quarter valued at about $28,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Everest Group during the 4th quarter valued at about $31,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased their target price 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 lifted their target price on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley decreased their target price 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. Citigroup lowered shares of 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 research report on Monday, February 12th. Finally, TD Cowen initiated coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Three 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Everest Group Trading Down 0.3 %

Shares of EG stock opened at $364.70 on Friday. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92. The company has a market capitalization of $19.42 billion, a P/E ratio of 6.11, a P/E/G ratio of 3.23 and a beta of 0.56. The firm has a 50-day moving average price of $375.92 and a 200 day moving average price of $379.71. 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 (NYSE:EG) last announced its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the previous year, the firm posted $12.21 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. Research analysts forecast that Everest Group, Ltd. will post 61.23 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

Insiders Place Their Bets

In other Everest Group news, CFO Mark Kociancic purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the purchase, the chief financial officer now directly owns 25,733 shares in the company, valued at approximately $8,980,817. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO James Allan Williamson acquired 700 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the acquisition, the chief operating officer now owns 11,749 shares in the company, valued at $4,141,522.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Kociancic acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $349.00 per share, with a total value of $349,000.00. Following the acquisition, the chief financial officer now owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,485 shares of company stock valued at $874,786. Insiders own 1.20% of the company’s stock.

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.