6,640 Shares in Everest Group, Ltd. (NYSE:EG) Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,640 shares of the company’s stock, valued at approximately $2,348,000.

Other hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System purchased a new position in shares of Everest Group in the 4th quarter valued at $58,360,000. Victory Capital Management Inc. purchased a new position in Everest Group in the fourth quarter valued at about $40,865,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Everest Group in the fourth quarter worth about $39,992,000. Zweig DiMenna Associates LLC purchased a new stake in shares of Everest Group during the fourth quarter valued at about $35,503,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Everest Group in the 4th quarter valued at about $31,810,000. 92.64% of the stock is currently owned by institutional investors.

Insider Activity at Everest Group

In other news, CFO Mark Kociancic acquired 1,000 shares of the company’s 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 purchase, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at $8,980,817. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Mark Kociancic acquired 1,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the transaction, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mike Karmilowicz bought 285 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the transaction, 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. Over the last ninety days, insiders purchased 2,485 shares of company stock worth $874,786. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EG. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $452.00 to $375.00 in a research report on Monday, February 12th. TD Cowen assumed coverage on Everest Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective 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. Wells Fargo & Company cut their price target 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. Finally, Morgan Stanley lowered their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Three research 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 company. According to data from MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Stock Performance

Shares of NYSE EG opened at $379.00 on Tuesday. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 3.25 and a beta of 0.57. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92. The company has a 50 day simple moving average of $376.26 and a two-hundred day simple moving average of $378.09. The company has a current ratio of 0.35, a quick ratio of 0.37 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last posted its earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm posted $11.31 earnings per share. As a group, analysts predict that Everest Group, Ltd. will post 61.49 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is 10.40%.

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.