Everest Group, Ltd. (NYSE:EG) Shares Bought by DnB Asset Management AS

DnB Asset Management AS lifted its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,492 shares of the company’s stock after purchasing an additional 445 shares during the quarter. DnB Asset Management AS’s holdings in Everest Group were worth $3,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EG. SBI Securities Co. Ltd. acquired a new position in Everest Group during the fourth quarter worth approximately $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Everest Group during the 3rd quarter valued at $64,000. Private Trust Co. NA increased its holdings in shares of Everest Group by 48.5% during the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after buying an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after buying an additional 64 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. 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. Barclays raised their price target on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and an average price target of $416.50.

Insider Activity

In other news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value 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. 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 available at the SEC website. Company insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $363.91 on Tuesday. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. 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 company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The firm’s fifty day moving average price is $351.46 and its 200 day moving average price is $366.27.

Everest Group (NYSE:EG) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s payout ratio is 25.47%.

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.