Frontier Capital Management Co. LLC Acquires 1,626 Shares of Everest Group, Ltd. (NYSE:EG)

Frontier Capital Management Co. LLC increased its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EG. SBI Securities Co. Ltd. bought a new position in shares of Everest Group during the fourth quarter worth about $31,000. Optiver Holding B.V. acquired a new position in Everest Group during the fourth quarter valued at approximately $51,000. Wilmington Savings Fund Society FSB acquired a new position in Everest Group during the third quarter valued at approximately $64,000. Private Trust Co. NA boosted its position 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 last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Everest Group by 43.5% during 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 last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EG shares. UBS Group reduced their price target on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and increased their price target for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Wells Fargo & Company reduced their price target on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Barclays reduced their price target on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods reduced their price target on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Six 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $397.18.

Everest Group Stock Performance

Shares of EG traded up $0.53 during mid-day trading on Friday, reaching $347.74. The company's stock had a trading volume of 325,168 shares, compared to its average volume of 375,471. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The stock has a market cap of $14.79 billion, a P/E ratio of 11.07, a PEG ratio of 0.24 and a beta of 0.58. The business has a 50-day simple moving average of $352.77 and a two-hundred day simple moving average of $357.82. 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 quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) 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 analyst estimates of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $16.32 earnings per share. As a group, equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a dividend of $2.00 per share. The ex-dividend date was Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.30%. Everest Group's payout ratio is currently 41.15%.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The stock was 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. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

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.