Everest Group, Ltd. (NYSE:EG) Shares Acquired by State of Wyoming

State of Wyoming increased its position in Everest Group, Ltd. (NYSE:EG) by 117.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,663 shares of the company’s stock after purchasing an additional 897 shares during the period. State of Wyoming’s holdings in Everest Group were worth $603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EG. Norges Bank purchased a new stake in shares of Everest Group in the 4th quarter valued at about $488,588,000. Vulcan Value Partners LLC lifted its holdings in shares of Everest Group by 279.1% in the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company’s stock valued at $354,768,000 after purchasing an additional 720,572 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Everest Group by 11,756.0% in the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company’s stock valued at $100,987,000 after purchasing an additional 276,266 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Everest Group by 14,518.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company’s stock valued at $68,882,000 after purchasing an additional 188,740 shares during the last quarter. Finally, Donald Smith & CO. Inc. purchased a new stake in shares of Everest Group in the 4th quarter valued at about $56,341,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Up 1.3%

EG opened at $348.22 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. The business has a 50 day simple moving average of $351.38 and a 200-day simple moving average of $356.81. The stock has a market capitalization of $14.81 billion, a P/E ratio of 11.09, a P/E/G ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30.

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

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, May 28th. Everest Group’s payout ratio is currently 41.15%.

Analyst Ratings Changes

Several analysts have recently weighed in on EG shares. Raymond James reissued a “strong-buy” rating and issued a $410.00 target price (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Evercore ISI reduced their price objective on Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. Keefe, Bruyette & Woods reduced their price objective on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $397.18.

Insider Activity at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

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.