Lighthouse Investment Partners LLC Boosts Holdings in Everest Group, Ltd. (NYSE:EG)

Lighthouse Investment Partners LLC lifted its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 59.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,014 shares of the company's stock after acquiring an additional 11,577 shares during the period. Lighthouse Investment Partners LLC owned 0.07% of Everest Group worth $11,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Everest Group in the 4th quarter valued at $31,000. Optiver Holding B.V. acquired a new position in Everest Group in the fourth quarter valued at about $51,000. Wilmington Savings Fund Society FSB boosted its stake in Everest Group by 19.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock worth $71,000 after buying an additional 32 shares during the period. Private Trust Co. NA increased its position in shares of 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 acquiring an additional 64 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James reaffirmed a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods decreased their price target on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley reiterated an "equal weight" rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, BMO Capital Markets cut Everest Group from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $397.18.

Insiders Place Their Bets

In other news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 12,279 shares of the company's stock, valued at approximately $4,428,175.77. This represents a 10.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Everest Group Stock Up 0.8%

Shares of NYSE EG traded up $2.58 during mid-day trading on Thursday, hitting $343.58. The company had a trading volume of 649,822 shares, compared to its average volume of 379,475. The company has a market capitalization of $14.61 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. The business's 50-day simple moving average is $351.79 and its 200 day simple moving average is $357.42. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results 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). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the business earned $16.32 EPS. Everest Group's revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.33%. Everest Group's dividend payout ratio is currently 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.