Zimmer Partners LP Purchases 11,276 Shares of Everest Group, Ltd. (NYSE:EG)

Zimmer Partners LP raised its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 137,500 shares of the company's stock after purchasing an additional 11,276 shares during the period. Zimmer Partners LP owned approximately 0.32% of Everest Group worth $49,838,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EG. Assenagon Asset Management S.A. bought a new stake in Everest Group in the fourth quarter valued at approximately $417,000. Wedge Capital Management L L P NC boosted its holdings in shares of Everest Group by 9.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 8,636 shares of the company's stock valued at $3,130,000 after buying an additional 739 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Everest Group by 16.7% in the fourth quarter. HB Wealth Management LLC now owns 2,260 shares of the company's stock valued at $819,000 after buying an additional 324 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Everest Group by 206.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,745 shares of the company's stock valued at $1,720,000 after buying an additional 3,197 shares during the period. Finally, Dakota Wealth Management boosted its holdings in shares of Everest Group by 1.7% in the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company's stock valued at $705,000 after buying an additional 32 shares during the period. Institutional investors own 92.64% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on EG shares. Keefe, Bruyette & Woods reduced their price target on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company reduced 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 report on Tuesday, May 6th. UBS Group reduced their price target on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Barclays reduced their price target on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Everest Group currently has an average rating of "Moderate Buy" and an average target price of $398.09.

Everest Group Stock Down 0.2%

Everest Group stock opened at $347.40 on Tuesday. The company has a market cap of $14.78 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The company has a fifty day simple moving average of $351.37 and a 200 day simple moving average of $356.78. 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 (NYSE:EG - Get Free Report) last released 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 business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the business posted $16.32 EPS. Research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is currently 41.15%.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the 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 trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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.

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