Robeco Institutional Asset Management B.V. Purchases New Shares in Everest Group, Ltd. (NYSE:EG)

Robeco Institutional Asset Management B.V. purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 98,180 shares of the company’s stock, valued at approximately $34,714,000. Robeco Institutional Asset Management B.V. owned approximately 0.23% of Everest Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EG. Allworth Financial LP acquired a new stake in shares of Everest Group in the 4th quarter valued at $25,000. Avior Wealth Management LLC acquired a new stake in shares of Everest Group during the fourth quarter worth $25,000. Headlands Technologies LLC acquired a new stake in shares of Everest Group during the fourth quarter worth $25,000. Janiczek Wealth Management LLC acquired a new stake in shares of Everest Group during the fourth quarter worth $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group during the fourth quarter worth $28,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on EG. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Keefe, Bruyette & Woods lifted their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley reduced their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, Wells Fargo & Company reduced their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Everest Group Stock Up 1.2 %

Shares of Everest Group stock traded up $4.65 during trading on Friday, reaching $392.92. The stock had a trading volume of 261,232 shares, compared to its average volume of 312,216. The company has a market capitalization of $17.08 billion, a price-to-earnings ratio of 5.84, a P/E/G ratio of 3.40 and a beta of 0.57. The stock has a fifty day moving average price of $378.71 and a two-hundred day moving average price of $377.56. Everest Group, Ltd. has a 52 week low of $331.08 and a 52 week high of $417.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $11.31 earnings per share. Sell-side analysts predict that Everest Group, Ltd. will post 61.64 EPS for the current fiscal year.

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 29th will be given a $2.00 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s payout ratio is currently 10.40%.

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.