Jacobs Levy Equity Management Inc. Purchases 11,149 Shares of Everest Group, Ltd. (NYSE:EG)

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 15.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,617 shares of the company's stock after buying an additional 11,149 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.19% of Everest Group worth $29,945,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in Everest Group by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company's stock valued at $21,117,000 after acquiring an additional 2,818 shares during the period. Czech National Bank raised its stake in shares of Everest Group by 5.7% during the 4th quarter. Czech National Bank now owns 9,319 shares of the company's stock valued at $3,378,000 after purchasing an additional 504 shares during the period. Wedmont Private Capital raised its stake in shares of Everest Group by 15.0% during the 4th quarter. Wedmont Private Capital now owns 734 shares of the company's stock valued at $259,000 after purchasing an additional 96 shares during the period. Elevated Capital Advisors LLC lifted its holdings in Everest Group by 6.1% during the 4th quarter. Elevated Capital Advisors LLC now owns 2,193 shares of the company's stock worth $795,000 after purchasing an additional 127 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Everest Group in the 4th quarter worth about $417,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on EG. Morgan Stanley reiterated an "equal weight" rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Evercore ISI decreased their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and cut their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Raymond James restated a "strong-buy" rating and set a $410.00 price target (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their price objective on Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Six 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's stock. Based on data from MarketBeat, Everest Group presently has an average rating of "Moderate Buy" and a consensus target price of $397.18.

Insider Activity

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm's 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 transaction, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Everest Group Price Performance

NYSE EG traded up $4.33 during trading hours on Friday, reaching $348.22. 417,176 shares of the stock traded hands, compared to its average volume of 380,444. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50 day simple moving average of $351.38 and a two-hundred day simple moving average of $356.96. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. The company has a market cap of $14.81 billion, a price-to-earnings ratio of 11.09, 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 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 firm had revenue of $4.26 billion during 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 business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $16.32 EPS. On average, analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

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.