Cornerstone Select Advisors LLC Takes $451,000 Position in Everest Group, Ltd. (NYSE:EG)

Cornerstone Select Advisors LLC purchased a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,244 shares of the company's stock, valued at approximately $451,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Everest Group during the 4th quarter valued at $488,588,000. Vulcan Value Partners LLC raised its holdings in Everest Group by 279.1% during the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after acquiring an additional 720,572 shares during the period. Sterling Capital Management LLC lifted its holdings in Everest Group by 11,756.0% during the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock worth $100,987,000 after purchasing an additional 276,266 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Everest Group by 14,518.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock worth $68,882,000 after buying an additional 188,740 shares in the last quarter. Finally, Donald Smith & CO. Inc. bought a new position in Everest Group in the 4th quarter valued at $56,341,000. 92.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a report on Tuesday. UBS Group reduced their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $376.00 to $415.00 in a report on Friday, April 11th. Finally, Raymond James reiterated a "strong-buy" rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a report on Tuesday. Six equities 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 stock. Based on data from MarketBeat.com, Everest Group presently has an average rating of "Moderate Buy" and an average target price of $397.18.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was 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 approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Everest Group Stock Up 0.2 %

Shares of EG traded up $0.53 on Friday, hitting $347.74. 325,168 shares of the stock traded hands, compared to its average volume of 374,550. The business has a 50 day simple moving average of $352.77 and a 200 day simple moving average of $358.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The company has a market capitalization of $14.79 billion, a PE ratio of 11.07, a P/E/G ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 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 the consensus estimate of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business's revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $16.32 earnings per share. As a group, equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Monday, March 17th. Everest Group's payout ratio is currently 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.