Frontier Capital Management Co. LLC Increases Stake in Everest Group, Ltd. (NYSE:EG)

Frontier Capital Management Co. LLC increased its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,815 shares of the company's stock after buying an additional 1,626 shares during the quarter. Frontier Capital Management Co. LLC owned 0.12% of Everest Group worth $18,781,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in shares of Everest Group during the 4th quarter worth $31,000. Optiver Holding B.V. purchased a new position in Everest Group during the fourth quarter valued at $51,000. Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the third quarter valued at about $64,000. Private Trust Co. NA grew its holdings in Everest Group by 48.5% during 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 position in Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock worth $76,000 after buying an additional 64 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EG. Evercore ISI lowered their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. BMO Capital Markets downgraded shares of 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 research report on Thursday, January 30th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Morgan Stanley restated an "equal weight" rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, Raymond James reissued a "strong-buy" rating and issued a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Six equities research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $397.18.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 12,279 shares of the company's stock, valued at approximately $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

Everest Group Price Performance

Everest Group stock traded down $2.56 during mid-day trading on Wednesday, reaching $343.59. 240,979 shares of the company's stock traded hands, compared to its average volume of 376,494. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. 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 stock has a 50 day moving average of $352.23 and a two-hundred day moving average of $357.52. The company has a market cap of $14.61 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). The business had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $16.32 earnings per share. Equities analysts forecast 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 was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group's payout ratio is 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.