Mn Services Vermogensbeheer B.V. Purchases New Shares in Everest Group, Ltd. (NYSE:EG)

Mn Services Vermogensbeheer B.V. purchased a new stake in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 19,700 shares of the company’s stock, valued at approximately $6,966,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in Everest Group in the 4th quarter valued at $919,000. Ingalls & Snyder LLC purchased a new position in shares of Everest Group during the 4th quarter worth $1,486,000. Clarius Group LLC purchased a new position in shares of Everest Group during the 4th quarter worth $312,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Everest Group during the 4th quarter worth $2,487,000. Finally, Janiczek Wealth Management LLC purchased a new position in shares of Everest Group during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE EG opened at $359.53 on Tuesday. Everest Group, Ltd. has a 1-year low of $331.08 and a 1-year high of $417.92. The company has a market cap of $15.60 billion, a P/E ratio of 6.02, a P/E/G ratio of 3.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a 50-day moving average of $376.46 and a two-hundred day moving average of $380.58.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $12.21 earnings per share. As a group, analysts anticipate that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders 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 annualized dividend and a yield of 1.95%. Everest Group’s dividend payout ratio is currently 11.72%.

Insider Buying and Selling at Everest Group

In related news, CFO Mark Kociancic purchased 1,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought 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 directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mark Kociancic acquired 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the acquisition, the chief financial officer now owns 25,733 shares of the company’s stock, valued at $8,980,817. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mike Karmilowicz acquired 285 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the acquisition, the chief executive officer now directly 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. Insiders have purchased 2,485 shares of company stock worth $874,786 over the last three months. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

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

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.