Numerai GP LLC Acquires New Shares in Everest Group, Ltd. (NYSE:EG)

Numerai GP LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,619 shares of the company's stock, valued at approximately $4,936,000. Everest Group comprises 1.4% of Numerai GP LLC's holdings, making the stock its 3rd biggest position.

Several other hedge funds have also recently bought and sold shares of EG. SBI Securities Co. Ltd. acquired a new stake in shares of Everest Group in the fourth quarter valued at about $31,000. Optiver Holding B.V. acquired a new stake in shares of Everest Group in the fourth quarter valued at about $51,000. Wilmington Savings Fund Society FSB grew its position in shares of Everest Group by 19.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock valued at $71,000 after purchasing an additional 32 shares during the last quarter. Private Trust Co. NA grew its position in shares of Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company's stock valued at $71,000 after purchasing an additional 64 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after purchasing an additional 64 shares during the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of EG traded up $2.58 on Thursday, hitting $343.58. The company's stock had a trading volume of 649,822 shares, compared to its average volume of 380,187. The company has a market capitalization of $14.61 billion, a PE ratio of 10.94, a PEG ratio of 0.24 and a beta of 0.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The company has a 50 day moving average price of $351.50 and a 200 day moving average price of $357.16.

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

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.33%. Everest Group's dividend payout ratio is 41.15%.

Insiders Place Their Bets

In related news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares in the company, valued at $4,428,175.77. This represents a 10.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EG shares. Evercore ISI decreased their target price on Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. Barclays decreased their target price on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Morgan Stanley reissued an "equal weight" rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Raymond James reissued a "strong-buy" rating and set a $410.00 target price (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company cut 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 note on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $397.18.

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.