ExodusPoint Capital Management LP Raises Position in Everest Group, Ltd. (NYSE:EG)

ExodusPoint Capital Management LP lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1,157.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,676 shares of the company’s stock after buying an additional 9,827 shares during the period. ExodusPoint Capital Management LP’s holdings in Everest Group were worth $3,870,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Everest Group during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Everest Group during the 3rd quarter valued at $64,000. Private Trust Co. NA raised its stake in shares of Everest Group by 48.5% during the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after purchasing an additional 64 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after buying an additional 64 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in Everest Group by 22.4% during the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after buying an additional 47 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

EG has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays increased their price target on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $416.50.

Everest Group Stock Down 6.8 %

EG opened at $337.09 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a one year low of $322.10 and a one year high of $407.30. The firm has a market capitalization of $14.47 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a fifty day moving average price of $350.91 and a 200-day moving average price of $365.44.

Everest Group (NYSE:EG) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a $2.00 dividend. The ex-dividend date was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.37%. Everest Group’s dividend payout ratio is presently 25.47%.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.