Sone Capital Management LLC Makes New $9.84 Million Investment in Everest Group, Ltd. (NYSE:EG)

Sone Capital Management LLC bought a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,160 shares of the company’s stock, valued at approximately $9,844,000. Everest Group makes up approximately 1.2% of Sone Capital Management LLC’s portfolio, making the stock its 29th largest position.

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

Everest Group Price Performance

EG stock opened at $348.22 on Monday. The firm has a 50 day moving average of $351.38 and a 200-day moving average of $356.81. The firm has a market capitalization of $14.81 billion, a P/E ratio of 11.09, a price-to-earnings-growth 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. 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 (NYSE:EG) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $16.32 earnings per share. As a group, sell-side analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm 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 dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.30%. The ex-dividend date is Wednesday, May 28th. Everest Group’s dividend payout ratio is 41.15%.

Wall Street Analyst Weigh In

Several analysts have issued reports on EG shares. Wells Fargo & Company lowered their target price on Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Barclays dropped their price objective on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Evercore ISI reduced their target price on shares of 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. Finally, Morgan Stanley restated an “equal weight” rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $397.18.

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on 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 sale, the director now directly owns 12,279 shares in the company, 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 through this hyperlink. 1.10% of the stock is 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.