GAMMA Investing LLC Buys New Position in Everest Group, Ltd. (NYSE:EG)

GAMMA Investing LLC bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 326 shares of the company’s stock, valued at approximately $126,000.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Everest Group during the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC bought a new position in shares of Everest Group in the fourth quarter worth approximately $25,000. Janiczek Wealth Management LLC bought a new position in shares of 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 worth approximately $28,000. Finally, DT Investment Partners LLC bought a new position in shares of Everest Group in the fourth quarter worth approximately $31,000. 92.64% of the stock is currently owned by institutional investors.

Insider Activity at Everest Group

In other Everest Group news, Director Roger M. Singer purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the purchase, the director now directly owns 16,920 shares in the company, valued at $6,043,993.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mark Kociancic bought 1,000 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $349.00 per share, with a total value of $349,000.00. Following the completion of the purchase, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roger M. Singer bought 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the purchase, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,485 shares of company stock valued at $874,786 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EG shares. Keefe, Bruyette & Woods upped 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 dropped their price target on shares of 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 lowered shares of Everest Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Wells Fargo & Company dropped their price target on shares of 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. Finally, TD Cowen assumed coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price on the stock. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $432.11.

Everest Group Price Performance

EG stock opened at $364.70 on Friday. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92. The company’s fifty day moving average price is $375.85 and its 200-day moving average price is $379.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $19.42 billion, a PE ratio of 6.11, a price-to-earnings-growth ratio of 3.22 and a beta of 0.56.

Everest Group (NYSE:EG) last released 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 the consensus estimate of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. Everest Group’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.21 earnings per share. On average, equities analysts anticipate that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s payout ratio is 11.72%.

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.