JPMorgan Chase & Co. Grows Stake in Everest Group, Ltd. (NYSE:EG)

JPMorgan Chase & Co. increased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 39.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,775 shares of the company’s stock after purchasing an additional 31,306 shares during the quarter. JPMorgan Chase & Co.’s holdings in Everest Group were worth $39,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new stake in Everest Group during the fourth quarter worth approximately $5,842,000. Artisan Partners Limited Partnership purchased a new position in shares of Everest Group in the 4th quarter valued at $4,809,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Everest Group by 12.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 69,457 shares of the company’s stock valued at $25,362,000 after acquiring an additional 7,523 shares during the last quarter. Korea Investment CORP boosted its stake in Everest Group by 121.8% in the fourth quarter. Korea Investment CORP now owns 26,948 shares of the company’s stock valued at $9,768,000 after acquiring an additional 14,800 shares in the last quarter. Finally, Nuance Investments LLC purchased a new position in shares of Everest Group during the fourth quarter worth about $7,243,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’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 in the company, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Everest Group Stock Down 6.8 %

Shares of Everest Group stock opened at $337.09 on Monday. Everest Group, Ltd. has a one year low of $327.37 and a one year high of $407.30. The company has a market cap of $14.47 billion, a P/E ratio of 10.73, a PEG ratio of 0.24 and a beta of 0.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a fifty day moving average of $350.91 and a two-hundred day moving average of $365.44.

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

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.37%. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

Wall Street Analyst Weigh In

EG has been the subject of several research reports. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Barclays raised their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their price target 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and a consensus target price of $416.50.

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.