Two Sigma Advisers LP Acquires 47,700 Shares of Everest Group, Ltd. (NYSE:EG)

Two Sigma Advisers LP lifted its stake in Everest Group, Ltd. (NYSE:EG) by 230.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,400 shares of the company’s stock after acquiring an additional 47,700 shares during the period. Two Sigma Advisers LP’s holdings in Everest Group were worth $24,792,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EG. Assenagon Asset Management S.A. purchased a new position in Everest Group during the fourth quarter valued at approximately $417,000. HB Wealth Management LLC boosted its holdings in Everest Group by 16.7% in the 4th quarter. HB Wealth Management LLC now owns 2,260 shares of the company’s stock valued at $819,000 after purchasing an additional 324 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Everest Group by 206.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,745 shares of the company’s stock valued at $1,720,000 after purchasing an additional 3,197 shares during the period. Dakota Wealth Management grew its position in shares of Everest Group by 1.7% during the 4th quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock valued at $705,000 after purchasing an additional 32 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after purchasing an additional 13,687 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction that occurred 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 sale, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE EG opened at $347.35 on Wednesday. The stock’s 50-day moving average is $351.33 and its 200 day moving average is $356.72. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year 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 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 for 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 company’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $16.32 earnings per share. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on EG. Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Wells Fargo & Company dropped their price target on Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Evercore ISI cut their price objective on Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Raymond James reaffirmed a “strong-buy” rating and issued a $410.00 target price (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, UBS Group dropped their target price on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Six equities research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $398.09.

Everest Group Profile

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.