Cary Street Partners Financial LLC Buys Shares of 10,367 Everest Group, Ltd. (NYSE:EG)

Cary Street Partners Financial LLC purchased a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,367 shares of the company's stock, valued at approximately $3,757,000.

Several other institutional investors have also modified their holdings of EG. Vanguard Group Inc. raised its holdings in Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after purchasing an additional 43,793 shares in the last quarter. Norges Bank acquired a new stake in shares of Everest Group during the fourth quarter worth about $488,588,000. Franklin Resources Inc. lifted its holdings in shares of Everest Group by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after purchasing an additional 4,544 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Everest Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after purchasing an additional 8,321 shares during the period. Finally, Vulcan Value Partners LLC lifted its stake in Everest Group by 279.1% in the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after buying an additional 720,572 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Analyst Upgrades and Downgrades

EG has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley restated an "equal weight" rating and issued a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. UBS Group dropped their price target on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Barclays reduced their price objective on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, BMO Capital Markets cut Everest Group from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Everest Group has a consensus rating of "Moderate Buy" and a consensus price target of $397.18.

Insider Transactions at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Everest Group Stock Up 0.2 %

Shares of EG traded up $0.53 during mid-day trading on Friday, hitting $347.74. 325,168 shares of the company's stock were exchanged, compared to its average volume of 375,471. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.24 and a beta of 0.58. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average of $352.77 and a two-hundred day moving average of $358.02. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $16.32 earnings per share. On average, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.30%. Everest Group's payout ratio is 41.15%.

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.