Cary Street Partners Investment Advisory LLC Makes New Investment in Everest Group, Ltd. (NYSE:EG)

Cary Street Partners Investment Advisory LLC bought a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,277 shares of the company's stock, valued at approximately $1,512,000.

Other large investors have also recently modified their holdings of the company. Everence Capital Management Inc. purchased a new position in shares of Everest Group in the fourth quarter worth about $1,004,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Everest Group in the fourth quarter worth about $904,000. Daiwa Securities Group Inc. bought a new position in shares of Everest Group in the fourth quarter valued at approximately $1,400,000. Uncommon Cents Investing LLC bought a new position in shares of Everest Group in the fourth quarter valued at approximately $1,016,000. Finally, Mackenzie Financial Corp bought a new position in shares of Everest Group in the fourth quarter valued at approximately $15,446,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Trading Down 0.7 %

Shares of EG traded down $2.70 during mid-day trading on Tuesday, reaching $366.41. The company's stock had a trading volume of 563,295 shares, compared to its average volume of 370,738. The stock has a market cap of $19.51 billion, a PE ratio of 6.13, a P/E/G ratio of 3.22 and a beta of 0.56. 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 52 week low of $331.08 and a 52 week high of $417.92. The company's fifty day moving average price is $375.88 and its two-hundred day moving average price is $379.23.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping analysts' consensus estimates of $15.98 by $0.34. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The business's quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the business posted $11.31 EPS. On average, analysts predict that Everest Group, Ltd. will post 61.23 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Monday, March 18th. Everest Group's payout ratio is 11.72%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen began coverage on shares of Everest Group in a research report on Wednesday, January 10th. They issued a "market perform" rating and a $421.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of 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. Keefe, Bruyette & Woods lifted their target price 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. Citigroup lowered shares of Everest Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Finally, Morgan Stanley dropped their target price on shares of Everest Group from $466.00 to $450.00 and set an "overweight" rating for the company in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of "Moderate Buy" and an average price target of $432.11.

Insider Buying and Selling

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 bought at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the purchase, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Mike Karmilowicz acquired 285 shares of Everest Group stock in a transaction on Friday, February 9th. The shares were acquired 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark Kociancic acquired 1,000 shares of Everest Group stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the transaction, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Insiders have bought a total of 2,485 shares of company stock valued at $874,786 over the last three months. 1.20% of the stock is owned by company insiders.

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.