Desjardins Global Asset Management Inc. Takes Position in Everest Group, Ltd. (NYSE:EG)

Desjardins Global Asset Management Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,856 shares of the company's stock, valued at approximately $2,071,000.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in Everest Group in the 4th quarter valued at $1,866,000. Red Door Wealth Management LLC acquired a new position in shares of Everest Group during the fourth quarter worth about $237,000. Uncommon Cents Investing LLC purchased a new position in Everest Group during the fourth quarter worth about $1,016,000. Traynor Capital Management Inc. acquired a new stake in Everest Group in the fourth quarter valued at about $466,000. Finally, Global Retirement Partners LLC purchased a new stake in Everest Group in the 4th quarter valued at approximately $102,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Insider Activity at Everest Group

In other Everest Group news, Director Roger M. Singer acquired 500 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now owns 16,920 shares of the company's stock, valued at $6,043,993.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Mark Kociancic bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the transaction, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger M. Singer purchased 500 shares of the business's stock in a transaction on Monday, February 12th. The stock was purchased at an average cost of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,485 shares of company stock worth $874,786. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on shares of Everest Group from $466.00 to $450.00 and set an "overweight" rating for the company in a report on Monday. Keefe, Bruyette & Woods boosted their price target on Everest Group from $445.00 to $457.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. Citigroup downgraded Everest Group from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. TD Cowen started coverage on Everest Group in a research report on Wednesday, January 10th. They set a "market perform" rating and a $421.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on Everest Group from $402.00 to $397.00 and set an "equal weight" rating for the company in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Everest Group has a consensus rating of "Moderate Buy" and a consensus target price of $432.11.

Everest Group Price Performance

Shares of NYSE EG traded down $2.72 during midday trading on Wednesday, reaching $357.20. The company's stock had a trading volume of 446,695 shares, compared to its average volume of 371,344. The company has a market cap of $19.02 billion, a price-to-earnings ratio of 6.03, a price-to-earnings-growth ratio of 3.17 and a beta of 0.56. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $376.05 and a 200 day moving average price of $380.50.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, topping analysts' consensus estimates of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter last year, the business posted $12.21 EPS. Everest Group's revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Monday, March 18th. Everest Group's dividend payout ratio is 11.72%.

Everest Group 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.