Greenleaf Trust Buys Shares of 1,233 Everest Group, Ltd. (NYSE:EG)

Greenleaf Trust purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,233 shares of the company’s stock, valued at approximately $436,000.

A number of other hedge funds have also modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Everest Group during the 4th quarter worth $39,992,000. Zweig DiMenna Associates LLC purchased a new position in shares of Everest Group during the 4th quarter worth $35,503,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Everest Group during the 4th quarter worth $31,810,000. Strs Ohio purchased a new position in shares of Everest Group during the 4th quarter worth $23,980,000. Finally, New York State Teachers Retirement System purchased a new position in shares of Everest Group during the 4th quarter worth $19,854,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Price Performance

EG stock opened at $368.43 on Wednesday. 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 firm has a market capitalization of $19.62 billion, a P/E ratio of 6.17, a P/E/G ratio of 3.29 and a beta of 0.56. The business’s 50-day moving average is $376.19 and its two-hundred day moving average is $380.08. Everest Group, Ltd. has a 1 year low of $331.08 and a 1 year high of $417.92.

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

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

Analyst Ratings Changes

A number of research firms have recently weighed in on EG. Wells Fargo & Company lowered their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. TD Cowen began coverage on Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Morgan Stanley decreased their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Finally, Citigroup lowered 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 note on Monday, February 12th. Three investment 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 data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Insider Transactions at Everest Group

In other news, CEO Mike Karmilowicz purchased 285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 directly owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Everest Group news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now directly owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mike Karmilowicz purchased 285 shares of Everest Group stock in a transaction dated Friday, February 9th. The stock was acquired 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 in the company, valued at $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 valued at $874,786. Corporate insiders own 1.20% of the company’s stock.

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.