International Assets Investment Management LLC Acquires Shares of 22,983 Everest Group, Ltd. (NYSE:EG)

International Assets Investment Management LLC purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,983 shares of the company’s stock, valued at approximately $81,260,000. International Assets Investment Management LLC owned about 0.05% of Everest Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EG. Allworth Financial LP acquired a new stake in shares of Everest Group in the 4th quarter valued at $25,000. Global Retirement Partners LLC bought a new stake in Everest Group during the 4th quarter worth about $102,000. Webster Bank N. A. acquired a new position in Everest Group during the 4th quarter valued at about $177,000. Meeder Asset Management Inc. acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $205,000. Finally, Quent Capital LLC bought a new stake in shares of Everest Group during the fourth quarter worth approximately $229,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Roger M. Singer purchased 500 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now directly owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Mark Kociancic bought 1,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were bought at an average cost 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 in the company, valued at $8,980,817. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price 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 disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,485 shares of company stock worth $874,786. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Cowen began coverage on Everest Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target on the stock. Keefe, Bruyette & Woods raised their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Morgan Stanley reduced 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 note on Monday, April 15th. Finally, Wells Fargo & Company lowered 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 note on Thursday, April 11th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Stock Up 0.6 %

Everest Group stock opened at $372.07 on Friday. The company has a 50 day moving average of $376.01 and a 200-day moving average of $378.94. The company has a quick ratio of 0.37, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The stock has a market capitalization of $19.82 billion, a PE ratio of 5.53, a price-to-earnings-growth ratio of 3.23 and a beta of 0.57.

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

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a $1.75 dividend. 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 is currently 10.40%.

About Everest Group

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.