Kestra Private Wealth Services LLC Makes New Investment in Everest Group, Ltd. (NYSE:EG)

Kestra Private Wealth Services LLC acquired a new position in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,457 shares of the company’s stock, valued at approximately $1,929,000.

Other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System bought a new stake in shares of Everest Group during the 4th quarter valued at about $58,360,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Everest Group during the fourth quarter valued at approximately $39,992,000. Zweig DiMenna Associates LLC acquired a new stake in Everest Group during the fourth quarter valued at approximately $35,503,000. Allspring Global Investments Holdings LLC acquired a new stake in Everest Group during the fourth quarter valued at approximately $31,810,000. Finally, Strs Ohio purchased a new stake in shares of Everest Group in the 4th quarter valued at approximately $23,980,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Transactions at Everest Group

In other Everest Group news, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Everest Group news, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James Allan Williamson purchased 700 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, 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. In the last three months, insiders acquired 2,485 shares of company stock valued at $874,786. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. TD Cowen assumed coverage on shares of Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target on the stock. Morgan Stanley dropped 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 note on Monday, April 15th. Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Finally, Wells Fargo & Company lowered their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

Everest Group Price Performance

Shares of Everest Group stock opened at $372.07 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.37. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. The firm has a fifty day moving average price of $376.01 and a two-hundred day moving average price of $378.94. The company has a market cap of $19.82 billion, a PE ratio of 5.53, a price-to-earnings-growth ratio of 3.26 and a beta of 0.57.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm earned $11.31 EPS. The business’s revenue was up 25.8% on a year-over-year basis. Analysts expect that Everest Group, Ltd. will post 61.3 EPS for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s payout ratio is 10.40%.

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.