IFM Investors Pty Ltd Takes Position in Everest Group, Ltd. (NYSE:EG)

IFM Investors Pty Ltd acquired a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,282 shares of the company's stock, valued at approximately $4,087,000.

Several other institutional investors and hedge funds have also bought and sold shares of EG. Vanguard Group Inc. acquired a new position in Everest Group during the fourth quarter worth about $1,886,055,000. Wellington Management Group LLP acquired a new position in Everest Group during the fourth quarter worth about $751,457,000. Franklin Resources Inc. acquired a new position in Everest Group during the fourth quarter worth about $373,130,000. Boston Partners acquired a new position in Everest Group during the fourth quarter worth about $328,064,000. Finally, Norges Bank acquired a new position in Everest Group during the fourth quarter worth about $202,271,000. Institutional investors own 92.64% of the company's stock.

Insiders Place Their Bets

In other Everest Group news, Director Roger M. Singer purchased 500 shares of the business's stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the acquisition, the director now owns 16,920 shares of the company's stock, valued at $6,043,993.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Everest Group news, CEO Mike Karmilowicz purchased 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, for a total transaction of $100,431.15. Following the acquisition, the chief executive officer now owns 10,586 shares of the company's stock, valued at $3,730,400.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Roger M. Singer bought 500 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the completion of 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 acquired 2,485 shares of company stock worth $874,786. Corporate insiders own 1.20% of the company's stock.

Everest Group Trading Down 0.3 %

NYSE:EG traded down $1.06 on Friday, reaching $364.70. 294,127 shares of the stock traded hands, compared to its average volume of 289,171. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 3.23 and a beta of 0.56. The company's 50 day moving average is $375.85 and its 200-day moving average is $379.54. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. 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 released its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, beating analysts' consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $12.21 EPS. Equities research analysts anticipate that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Monday, March 18th. Everest Group's dividend payout ratio is presently 11.72%.

Wall Street Analyst Weigh In

Several brokerages have commented on EG. Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $397.00 and set an "equal weight" rating for the company in a research note on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on Everest Group from $445.00 to $457.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. Morgan Stanley lowered their target price on Everest Group from $466.00 to $450.00 and set an "overweight" rating for the company in a research note on Monday, April 15th. TD Cowen initiated coverage on Everest Group in a research note on Wednesday, January 10th. They issued a "market perform" rating and a $421.00 price objective for the company. Finally, Citigroup downgraded Everest Group from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Three research 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $432.11.

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.