Stifel Financial Corp Purchases 13,794 Shares of Everest Group, Ltd. (NYSE:EG)

Stifel Financial Corp increased its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 317.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,141 shares of the company's stock after acquiring an additional 13,794 shares during the quarter. Stifel Financial Corp's holdings in Everest Group were worth $6,575,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Everest Group in the fourth quarter valued at approximately $488,588,000. Sterling Capital Management LLC boosted its position in shares of Everest Group by 11,756.0% during the fourth quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock worth $100,987,000 after buying an additional 276,266 shares during the period. Donald Smith & CO. Inc. purchased a new stake in Everest Group during the 4th quarter worth approximately $56,341,000. Raymond James Financial Inc. acquired a new position in Everest Group during the 4th quarter worth $48,290,000. Finally, Invesco Ltd. grew its holdings in Everest Group by 17.2% during the 4th quarter. Invesco Ltd. now owns 855,120 shares of the company's stock worth $309,947,000 after acquiring an additional 125,271 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Barclays lowered their price target on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Morgan Stanley reaffirmed an "equal weight" rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods cut their target price 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. Finally, Evercore ISI decreased their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $396.00.

Insider Activity at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Everest Group Price Performance

Shares of Everest Group stock traded up $10.78 on Friday, reaching $348.16. 366,842 shares of the stock were exchanged, compared to its average volume of 370,096. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The firm has a market cap of $16.64 billion, a PE ratio of 11.08, a P/E/G ratio of 0.24 and a beta of 0.43. The firm's 50 day moving average is $353.32 and its 200-day moving average is $359.57.

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

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.30%. Everest Group's dividend payout ratio (DPR) is 25.47%.

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.