Xponance Inc. Buys New Position in Everest Group, Ltd. (NYSE:EG)

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

Several other large investors have also recently made changes to their positions in EG. Assenagon Asset Management S.A. purchased a new position in shares of Everest Group during the fourth quarter worth approximately $1,866,000. Red Door Wealth Management LLC purchased a new position in shares of Everest Group during the fourth quarter worth approximately $237,000. Uncommon Cents Investing LLC purchased a new position in shares of Everest Group during the fourth quarter worth approximately $1,016,000. Traynor Capital Management Inc. purchased a new position in shares of Everest Group during the fourth quarter worth approximately $466,000. Finally, Global Retirement Partners LLC bought a new position in shares of Everest Group in the fourth quarter worth approximately $102,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EG. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Wells Fargo & Company cut 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 report on Thursday, April 11th. TD Cowen started coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target on the stock. Morgan Stanley cut their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $432.11.

Insider Activity

In related news, CEO Mike Karmilowicz purchased 285 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $352.39 per share, with a total value of $100,431.15. Following the transaction, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Roger M. Singer bought 500 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the purchase, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mike Karmilowicz bought 285 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the purchase, the chief executive officer now owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,485 shares of company stock worth $874,786. Corporate insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

Shares of EG stock opened at $372.63 on Tuesday. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92. The stock has a market cap of $19.85 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 3.27 and a beta of 0.56. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $376.19 and its 200-day moving average price is $380.08.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the business posted $12.21 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts expect that Everest Group, Ltd. will post 61.21 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

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.