Royal Bank of Canada Purchases 22,989 Shares of Everest Group, Ltd. (NYSE:EG)

Royal Bank of Canada lifted its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 26.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,183 shares of the company's stock after buying an additional 22,989 shares during the quarter. Royal Bank of Canada owned approximately 0.26% of Everest Group worth $39,937,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Everest Group during the 4th quarter worth approximately $417,000. Crossmark Global Holdings Inc. grew its stake in Everest Group by 206.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,745 shares of the company's stock worth $1,720,000 after buying an additional 3,197 shares during the last quarter. Dakota Wealth Management increased its position in Everest Group by 1.7% during the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company's stock worth $705,000 after buying an additional 32 shares during the period. Janney Montgomery Scott LLC lifted its stake in Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company's stock valued at $8,225,000 after buying an additional 13,687 shares during the last quarter. Finally, Traynor Capital Management Inc. boosted its holdings in shares of Everest Group by 31.6% in the fourth quarter. Traynor Capital Management Inc. now owns 2,628 shares of the company's stock valued at $953,000 after acquiring an additional 631 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company'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 value of $540,945.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.

Everest Group Stock Down 1.0%

NYSE EG traded down $3.45 on Wednesday, hitting $338.31. 158,126 shares of the stock traded hands, compared to its average volume of 383,608. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $349.25 and a 200 day moving average of $355.97. The company has a market capitalization of $14.39 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm 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 firm's revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $16.32 EPS. As a group, analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group decreased their price target 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. Evercore ISI lowered their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods reduced their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Wells Fargo & Company reduced their price objective on Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. 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.com, Everest Group has an average rating of "Moderate Buy" and an average target price of $398.09.

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.