Nicholas Investment Partners LP Takes Position in Everest Group, Ltd. (NYSE:EG)

Nicholas Investment Partners LP purchased a new stake in 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 fund purchased 8,517 shares of the company's stock, valued at approximately $3,011,000.

Other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $13,273,000. Victory Capital Management Inc. acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $40,865,000. Avidian Wealth Solutions LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $836,000. Everence Capital Management Inc. acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $1,004,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Everest Group during the fourth quarter worth $904,000. Institutional investors own 92.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EG. Morgan Stanley lowered their target price on shares of Everest Group from $466.00 to $450.00 and set an "overweight" rating on the stock in a report on Monday, April 15th. Citigroup downgraded shares of Everest Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $445.00 to $457.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Everest Group from $402.00 to $397.00 and set an "equal weight" rating on the stock in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $432.11.

Everest Group Stock Down 0.6 %

EG traded down $2.42 during mid-day trading on Tuesday, reaching $378.76. 216,686 shares of the stock were exchanged, compared to its average volume of 360,943. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $16.46 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The company has a 50 day moving average price of $377.69 and a two-hundred day moving average price of $377.63. 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 announced its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The business had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period in the previous year, the business posted $11.31 EPS. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. As a group, research analysts anticipate that Everest Group, Ltd. will post 61.64 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, March 18th. Everest Group's payout ratio is 10.40%.

Everest Group 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.