OVERSEA CHINESE BANKING Corp Ltd Buys New Position in Everest Group, Ltd. (NYSE:EG)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,558 shares of the company’s stock, valued at approximately $904,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EG. Allworth Financial LP bought a new position in Everest Group in the fourth quarter worth approximately $25,000. Avior Wealth Management LLC bought a new position in Everest Group in the fourth quarter worth approximately $25,000. Janiczek Wealth Management LLC bought a new position in Everest Group in the fourth quarter worth approximately $27,000. Trifecta Capital Advisors LLC bought a new position in shares of Everest Group in the fourth quarter valued at approximately $28,000. Finally, DT Investment Partners LLC bought a new position in shares of Everest Group in the fourth quarter valued at approximately $31,000. Institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

In other news, COO James Allan Williamson purchased 700 shares of the company’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $352.50 per share, with a total value of $246,750.00. Following the completion of the purchase, the chief operating officer now directly owns 11,749 shares in the company, valued at approximately $4,141,522.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Everest Group news, CFO Mark Kociancic purchased 1,000 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the acquisition, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO James Allan Williamson purchased 700 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the acquisition, the chief operating officer now owns 11,749 shares in the company, valued at $4,141,522.50. The disclosure for this purchase can be found here. Insiders bought a total of 2,485 shares of company stock valued at $874,786 over the last 90 days. Insiders own 1.20% of the company’s stock.

Everest Group Price Performance

NYSE:EG opened at $370.26 on Monday. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 6.20, a P/E/G ratio of 3.27 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 stock has a fifty day moving average of $375.96 and a 200 day moving average of $380.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

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

Everest Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

EG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley decreased their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. TD Cowen began coverage on Everest Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Three 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Everest Group 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.