Sone Capital Management LLC Purchases New Position in Everest Group, Ltd. (NYSE:EG)

Sone Capital Management LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,160 shares of the company's stock, valued at approximately $9,844,000. Everest Group comprises approximately 1.2% of Sone Capital Management LLC's investment portfolio, making the stock its 29th largest position. Sone Capital Management LLC owned about 0.06% of Everest Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Everest Group in the 4th quarter valued at $31,000. Optiver Holding B.V. acquired a new stake in Everest Group in the fourth quarter valued at $51,000. Wilmington Savings Fund Society FSB increased its holdings in 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 period. Private Trust Co. NA increased its holdings in 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 period. Finally, EverSource Wealth Advisors LLC increased its holdings in 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 period. 92.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. UBS Group decreased their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Morgan Stanley increased their price objective on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and increased their price objective for the company from $376.00 to $415.00 in a report on Friday, April 11th. Finally, Wells Fargo & Company decreased 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, May 6th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $398.09.

Everest Group Trading Down 0.1%

Everest Group stock traded down $0.30 during trading hours on Friday, reaching $336.00. 421,507 shares of the company's stock were exchanged, compared to its average volume of 383,436. 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's 50 day simple moving average is $349.89 and its 200 day simple moving average is $356.40. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The firm has a market capitalization of $14.29 billion, a PE ratio of 10.70, a PEG ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly 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 business had revenue of $4.26 billion for 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 business's revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $16.32 earnings per share. Research analysts predict 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 will be paid on Friday, June 13th. Stockholders 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 dividend yield of 2.38%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Transactions at Everest Group

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

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.