Summit Global Investments Buys New Position in Everest Group, Ltd. (NYSE:EG)

Summit Global Investments bought a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,504 shares of the company's stock, valued at approximately $7,250,000.

A number of other hedge funds have 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 valued at approximately $25,000. Avior Wealth Management LLC acquired a new position in Everest Group in the 4th quarter valued at $25,000. Headlands Technologies LLC acquired a new position in Everest Group in the 4th quarter valued at $25,000. Janiczek Wealth Management LLC purchased a new position in Everest Group in the 4th quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Everest Group during the fourth quarter worth $28,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction on Monday, February 12th. The shares were bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the acquisition, the director now directly 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 is available through this link. In other Everest Group news, CEO Mike Karmilowicz acquired 285 shares of the firm's stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the acquisition, the chief executive officer now directly owns 10,586 shares of the company's stock, valued at $3,730,400.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roger M. Singer acquired 500 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,485 shares of company stock valued at $874,786. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on EG. Citigroup lowered shares of 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 report on Monday, February 12th. Morgan Stanley reduced 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, April 15th. 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 report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on 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 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. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $432.11.

Everest Group Stock Performance

Shares of Everest Group stock traded up $2.17 during trading hours on Thursday, hitting $372.07. 531,361 shares of the company were exchanged, compared to its average volume of 374,936. The company has a current ratio of 0.35, a quick ratio of 0.37 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $19.82 billion, a price-to-earnings ratio of 5.53, a P/E/G ratio of 3.23 and a beta of 0.57. The business has a 50-day moving average of $376.01 and a 200-day moving average of $378.94. 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 quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating analysts' consensus estimates of $15.98 by $0.34. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $11.31 earnings per share. As a group, analysts expect 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. The ex-dividend date was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a yield of 1.88%. Everest Group's payout ratio is 10.40%.

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.