Cambridge Trust Co. Acquires New Position in Everest Group, Ltd. (NYSE:EG)

Cambridge Trust Co. acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 90 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP purchased a new position in Everest Group during the fourth quarter worth about $25,000. Avior Wealth Management LLC purchased a new position in Everest Group during the fourth quarter worth about $25,000. Janiczek Wealth Management LLC purchased a new position in Everest Group during the fourth quarter worth about $27,000. Trifecta Capital Advisors LLC purchased a new position in Everest Group during the fourth quarter worth about $28,000. Finally, Toth Financial Advisory Corp purchased a new position in Everest Group during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $370.26 on Friday. 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 firm has a market cap of $19.72 billion, a PE ratio of 6.20, a price-to-earnings-growth ratio of 3.18 and a beta of 0.56. The company’s 50 day simple moving average is $375.96 and its 200-day simple moving average is $380.16. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share 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 analyst estimates of $3.85 billion. During the same period last year, the firm posted $12.21 EPS. Everest Group’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities analysts predict that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is currently 11.72%.

Analyst Ratings Changes

EG has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Keefe, Bruyette & Woods increased 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. Morgan Stanley reduced 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. TD Cowen began 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. Finally, Citigroup cut shares of 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 research report on Monday, February 12th. 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 data from MarketBeat.com, Everest Group has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Roger M. Singer bought 500 shares of Everest Group stock in a transaction on Monday, February 12th. The stock was bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the acquisition, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Roger M. Singer purchased 500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the purchase, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO James Allan Williamson purchased 700 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, with a total value of $246,750.00. Following the purchase, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,485 shares of company stock valued at $874,786. 1.40% of the stock is owned by company insiders.

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.