D. E. Shaw & Co. Inc. Makes New $5.09 Million Investment in Everest Group, Ltd. (NYSE:EG)

D. E. Shaw & Co. Inc. bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,050 shares of the company's stock, valued at approximately $5,093,000.

A number of other hedge funds also recently made changes to their positions in the business. Deutsche Bank AG lifted its stake in shares of Everest Group by 28.4% during the 4th quarter. Deutsche Bank AG now owns 232,730 shares of the company's stock worth $84,355,000 after buying an additional 51,492 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Everest Group by 67.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 92,745 shares of the company's stock worth $33,616,000 after acquiring an additional 37,303 shares during the period. Colonial Trust Co SC grew its position in shares of Everest Group by 141.7% in the fourth quarter. Colonial Trust Co SC now owns 597 shares of the company's stock valued at $216,000 after purchasing an additional 350 shares during the last quarter. Cornerstone Select Advisors LLC bought a new position in shares of Everest Group during the fourth quarter worth approximately $451,000. Finally, Captrust Financial Advisors increased its stake in shares of Everest Group by 11.3% during the fourth quarter. Captrust Financial Advisors now owns 2,588 shares of the company's stock worth $938,000 after purchasing an additional 262 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EG. BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $453.00 to $375.00 in a report on Thursday, January 30th. UBS Group dropped their price objective on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company lowered their target price on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Evercore ISI cut their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Six equities research 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 MarketBeat, Everest Group presently has an average rating of "Moderate Buy" and an average target price of $398.09.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. The trade was a 10.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company's stock.

Everest Group Price Performance

NYSE EG traded down $3.19 during trading on Thursday, hitting $337.34. 44,122 shares of the company's stock were exchanged, compared to its average volume of 381,276. The company has a market cap of $14.35 billion, a PE ratio of 10.75, a P/E/G ratio of 0.24 and a beta of 0.58. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The stock's 50 day moving average price is $350.95 and its two-hundred day moving average price is $356.61.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion for 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 quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $16.32 EPS. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.37%. Everest Group's dividend 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.