Uncommon Cents Investing LLC Takes Position in Everest Group, Ltd. (NYSE:EG)

Uncommon Cents Investing LLC acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,874 shares of the company’s stock, valued at approximately $1,016,000.

Separately, Assenagon Asset Management S.A. acquired a new position in Everest Group in the fourth quarter valued at $1,866,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the transaction, the director now directly owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO James Allan Williamson bought 700 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $352.50 per share, with a total value of $246,750.00. Following the purchase, the chief operating officer now owns 11,749 shares in the company, valued at $4,141,522.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now directly 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. Over the last ninety days, insiders have bought 2,485 shares of company stock worth $874,786. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Evercore ISI assumed coverage on Everest Group in a report on Thursday, December 14th. They set an “inline” rating and a $431.00 price target on the stock. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $452.00 to $375.00 in a report on Monday, February 12th. TD Cowen began coverage on Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $465.00 to $445.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, Wells Fargo & Company cut shares of Everest Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $484.00 to $402.00 in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.67.

Everest Group Stock Performance

NYSE:EG opened at $397.50 on Friday. The firm’s fifty day simple moving average is $376.32 and its 200-day simple moving average is $381.06. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $17.24 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 3.73 and a beta of 0.55. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, topping the consensus estimate of $14.63 by $10.55. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the business posted $12.21 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts expect that Everest Group, Ltd. will post 62.04 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a yield of 1.76%. Everest Group’s payout ratio is 11.72%.

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.