Cary Street Partners Asset Management LLC Invests $2.77 Million in Everest Group, Ltd. (NYSE:EG)

Cary Street Partners Asset Management LLC acquired a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 7,845 shares of the company's stock, valued at approximately $2,774,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in shares of Everest Group during the fourth quarter worth about $25,000. Avior Wealth Management LLC purchased a new stake in Everest Group in the 4th quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in Everest Group during the 4th quarter worth approximately $25,000. Janiczek Wealth Management LLC purchased a new position in shares of Everest Group during the 4th quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at approximately $28,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Roger M. Singer acquired 500 shares of the firm's stock in a transaction on Monday, February 12th. The stock was bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the purchase, the director now directly owns 16,920 shares in the company, valued at $6,043,993.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Mark Kociancic bought 1,000 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the acquisition, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roger M. Singer acquired 500 shares of the company's stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the purchase, the director now directly owns 16,920 shares of the company's stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,485 shares of company stock valued at $874,786. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target 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. TD Cowen assumed coverage on Everest Group in a report on Wednesday, January 10th. They set a "market perform" rating and a $421.00 price objective for the company. Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $397.00 and set an "equal weight" rating on the stock in a report on Thursday, April 11th. Keefe, Bruyette & Woods lifted 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. Finally, Citigroup lowered Everest Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $452.00 to $375.00 in a research note on Monday, February 12th. 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. Based on data from MarketBeat.com, Everest Group has an average rating of "Moderate Buy" and a consensus price target of $432.11.

Everest Group Trading Up 1.0 %

Shares of EG stock traded up $3.49 during mid-day trading on Wednesday, hitting $369.90. 566,957 shares of the company's stock were exchanged, compared to its average volume of 373,074. The stock has a market cap of $19.70 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 3.26 and a beta of 0.56. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. The stock has a 50-day simple moving average of $375.84 and a two-hundred day simple moving average of $379.01.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $15.98 by $0.34. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a return on equity of 25.84% and a net margin of 18.69%. The firm's quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $11.31 EPS. Equities analysts expect that Everest Group, Ltd. will post 61.23 EPS for the current fiscal year.

Everest Group Announces Dividend

The company 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. This represents a $7.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group's payout ratio is currently 10.40%.

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.