Xponance Inc. Purchases Shares of 6,310 Everest Group, Ltd. (NYSE:EG)

Xponance Inc. purchased a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,310 shares of the company’s stock, valued at approximately $2,231,000.

Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Everest Group in the fourth quarter valued at about $39,992,000. Zweig DiMenna Associates LLC bought a new position in shares of Everest Group in the fourth quarter valued at about $35,503,000. Allspring Global Investments Holdings LLC bought a new position in shares of Everest Group in the fourth quarter valued at about $31,810,000. Strs Ohio bought a new position in shares of Everest Group in the fourth quarter valued at about $23,980,000. Finally, New York State Teachers Retirement System bought a new position in shares of Everest Group in the fourth quarter valued at about $19,854,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Price Performance

EG stock opened at $372.63 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92. The firm has a market cap of $19.85 billion, a P/E ratio of 6.24, a P/E/G ratio of 3.27 and a beta of 0.56. The company’s 50-day moving average price is $376.19 and its two-hundred day moving average price is $380.08.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, beating the consensus estimate of $14.63 by $10.55. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the firm earned $12.21 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Everest Group, Ltd. will post 61.21 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were paid a $1.75 dividend. The ex-dividend date was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.88%. Everest Group’s payout ratio is currently 11.72%.

Insider Activity

In related news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the purchase, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $357.21 per share, with a total value of $178,605.00. Following the purchase, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark Kociancic acquired 1,000 shares of Everest Group stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the purchase, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 2,485 shares of company stock worth $874,786. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. TD Cowen assumed coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Finally, Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

Everest Group Company 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.