Twin Capital Management Inc. Takes Position in Everest Group, Ltd. (NYSE:EG)

Twin Capital Management Inc. acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,238 shares of the company's stock, valued at approximately $3,620,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Everest Group during the fourth quarter worth $39,992,000. Zweig DiMenna Associates LLC acquired a new stake in Everest Group during the fourth quarter valued at $35,503,000. Allspring Global Investments Holdings LLC purchased a new position in Everest Group in the fourth quarter valued at $31,810,000. Strs Ohio purchased a new stake in shares of Everest Group during the 4th quarter worth about $23,980,000. Finally, New York State Teachers Retirement System acquired a new stake in Everest Group in the 4th quarter worth about $19,854,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Mike Karmilowicz bought 285 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the acquisition, the chief executive officer now directly owns 10,586 shares of the company's stock, valued at approximately $3,730,400.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction on Monday, February 12th. The stock was bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the transaction, the director now directly owns 16,920 shares of the company's stock, valued at $6,043,993.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mike Karmilowicz bought 285 shares of the business's stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, with a total value of $100,431.15. Following the transaction, the chief executive officer now owns 10,586 shares in the company, valued at $3,730,400.54. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 2,485 shares of company stock worth $874,786. Insiders own 1.40% of the company's stock.

Everest Group Stock Performance

Shares of EG stock traded up $3.12 on Thursday, hitting $360.26. 399,155 shares of the stock traded hands, compared to its average volume of 371,715. The company has a market capitalization of $19.19 billion, a PE ratio of 5.98, a PEG ratio of 3.18 and a beta of 0.56. The company's fifty day moving average is $375.51 and its 200 day moving average is $380.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. Everest Group, Ltd. has a 1-year low of $331.08 and a 1-year high of $417.92.

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

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were issued a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.94%. Everest Group's payout ratio is currently 11.72%.

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.