418,835 Shares in Everest Group, Ltd. (NYSE:EG) Acquired by Northern Trust Corp

Northern Trust Corp bought a new position in shares of Everest Group, Ltd. (NYSE:EGFree Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 418,835 shares of the company’s stock, valued at approximately $148,092,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EG. Assenagon Asset Management S.A. acquired a new stake in Everest Group during the 4th quarter worth approximately $1,866,000. Red Door Wealth Management LLC purchased a new position in Everest Group in the 4th quarter worth approximately $237,000. Uncommon Cents Investing LLC acquired a new stake in Everest Group in the fourth quarter valued at approximately $1,016,000. Traynor Capital Management Inc. purchased a new stake in shares of Everest Group during the fourth quarter valued at approximately $466,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Everest Group during the fourth quarter valued at approximately $102,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Down 0.3 %

Shares of Everest Group stock opened at $381.69 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. The firm has a market cap of $16.59 billion, a P/E ratio of 5.67, a P/E/G ratio of 3.36 and a beta of 0.62. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. The business has a 50-day moving average price of $378.35 and a 200 day moving average price of $377.10.

Everest Group (NYSE:EGGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating the consensus estimate of $15.98 by $0.34. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. Everest Group’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company earned $11.31 earnings per share. On average, sell-side analysts forecast that Everest Group, Ltd. will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a dividend yield of 2.10%. Everest Group’s payout ratio is 11.89%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EG. Wells Fargo & Company lowered 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 report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Finally, Morgan Stanley cut their price target 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. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Read Our Latest Research Report on Everest Group

Everest Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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