152,712 Shares in Everest Group, Ltd. (NYSE:EG) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 152,712 shares of the company's stock, valued at approximately $55,352,000. Point72 Asset Management L.P. owned about 0.36% of Everest Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in EG. SBI Securities Co. Ltd. acquired a new stake in Everest Group in the fourth quarter valued at about $31,000. Optiver Holding B.V. acquired a new stake in shares of Everest Group in the fourth quarter valued at about $51,000. Wilmington Savings Fund Society FSB boosted its holdings in Everest Group by 19.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock worth $71,000 after buying an additional 32 shares in the last quarter. Private Trust Co. NA grew its position in Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company's stock worth $71,000 after buying an additional 64 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Insider Activity

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This trade represents a 10.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Everest Group Trading Down 1.9%

NYSE:EG traded down $6.60 during trading hours on Wednesday, reaching $340.91. 162,051 shares of the company were exchanged, compared to its average volume of 380,982. The firm has a market cap of $14.50 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.24 and a beta of 0.58. The stock has a 50 day simple moving average of $351.33 and a 200 day simple moving average of $356.72. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The firm had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same period last year, the business posted $16.32 earnings per share. The company's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Wednesday, May 28th. Everest Group's payout ratio is 41.15%.

Analyst Upgrades and Downgrades

EG has been the subject of several research analyst reports. BMO Capital Markets downgraded Everest Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price objective on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Wells Fargo & Company reduced their target price on Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group reduced their target price on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $398.09.

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.