FCA Corp TX Acquires New Position in Everest Group, Ltd. (NYSE:EG)

FCA Corp TX bought a new position in Everest Group, Ltd. (NYSE:EG - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,416 shares of the company's stock, valued at approximately $3,683,000. Everest Group makes up about 1.3% of FCA Corp TX's portfolio, making the stock its 26th largest holding.

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

Everest Group Price Performance

NYSE:EG traded up $4.65 during trading hours on Friday, hitting $392.92. 261,232 shares of the stock were exchanged, compared to its average volume of 358,159. The firm's fifty day moving average price is $378.71 and its 200 day moving average price is $377.69. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The company has a market cap of $17.08 billion, a P/E ratio of 5.84, a P/E/G ratio of 3.29 and a beta of 0.57. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm's quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $11.31 EPS. As a group, equities research analysts anticipate that Everest Group, Ltd. will post 61.64 EPS for the current fiscal year.

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th will be issued a $2.00 dividend. This is a boost from Everest Group's previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, May 29th. Everest Group's dividend payout ratio is presently 10.40%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EG. Keefe, Bruyette & Woods boosted 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. Wells Fargo & Company decreased their price objective on shares of 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. Morgan Stanley lowered their target price on Everest Group from $466.00 to $450.00 and set an "overweight" rating on the stock in a research note on Monday, April 15th. Finally, Citigroup lowered shares of Everest Group from a "buy" rating to a "neutral" rating and dropped their price target for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $432.11.

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.

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