Polar Capital Holdings Plc Boosts Position in Everest Group, Ltd. (NYSE:EG)

Polar Capital Holdings Plc grew its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 368,750 shares of the company’s stock after purchasing an additional 8,750 shares during the quarter. Polar Capital Holdings Plc owned approximately 0.86% of Everest Group worth $133,657,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Everest Group in the fourth quarter worth about $31,000. Optiver Holding B.V. bought a new stake in Everest Group during the 4th quarter worth approximately $51,000. Wilmington Savings Fund Society FSB raised its stake in Everest Group by 19.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock worth $71,000 after acquiring an additional 32 shares during the period. Private Trust Co. NA lifted its holdings in Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after purchasing an additional 64 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 1.2%

Shares of NYSE EG opened at $342.06 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The firm’s 50-day moving average price is $351.79 and its 200-day moving average price is $357.42. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $16.32 earnings per share. On average, equities research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is 41.15%.

Insider Buying and Selling at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. The trade was a 10.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the topic of a number of recent analyst reports. UBS Group decreased their price target on Everest Group from $375.00 to $372.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company lowered their price target on Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their target price on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group upgraded shares of Everest Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $376.00 to $415.00 in a report on Friday, April 11th. Finally, Barclays dropped their price objective on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and an average price target of $397.18.

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.