Parkside Financial Bank & Trust Purchases New Stake in Everest Group, Ltd. (NYSE:EG)

Parkside Financial Bank & Trust purchased a new stake in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 137 shares of the company’s stock, valued at approximately $48,000.

Other large investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new stake in Everest Group in the 4th quarter valued at $1,004,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Everest Group in the 4th quarter valued at $904,000. Daiwa Securities Group Inc. bought a new stake in Everest Group in the 4th quarter valued at $1,400,000. Uncommon Cents Investing LLC bought a new stake in Everest Group in the 4th quarter valued at $1,016,000. Finally, Mackenzie Financial Corp bought a new position in Everest Group during the 4th quarter worth $15,446,000. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Morgan Stanley lowered their price objective on 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 increased their price objective on 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 Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on 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. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Everest Group Stock Performance

EG opened at $364.70 on Friday. The firm has a market cap of $19.42 billion, a P/E ratio of 6.11, a price-to-earnings-growth ratio of 3.23 and a beta of 0.56. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The business’s fifty day moving average is $375.92 and its 200-day moving average is $379.71.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.63 by $10.55. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. Everest Group’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $12.21 EPS. Sell-side analysts expect that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is currently 11.72%.

Insider Activity at Everest Group

In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the purchase, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the purchase, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mike Karmilowicz acquired 285 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the purchase, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The disclosure for this purchase can be found here. Insiders have acquired 2,485 shares of company stock valued at $874,786 over the last ninety days. 1.20% of the stock is owned by corporate 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.