State of Wyoming Increases Stock Holdings in Everest Group, Ltd. (NYSE:EG)

State of Wyoming increased its holdings in Everest Group, Ltd. (NYSE:EG) by 117.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,663 shares of the company’s stock after purchasing an additional 897 shares during the period. State of Wyoming’s holdings in Everest Group were worth $603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Everest Group in the fourth quarter valued at $31,000. Optiver Holding B.V. acquired a new position in Everest Group in the fourth quarter valued at $51,000. Wilmington Savings Fund Society FSB boosted its holdings in Everest Group by 19.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after acquiring an additional 32 shares during the last quarter. Private Trust Co. NA boosted its holdings in Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after acquiring an additional 64 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted 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 acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 1.3%

NYSE:EG opened at $348.22 on Monday. 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 business’s 50-day simple moving average is $351.38 and its 200 day simple moving average is $356.81. The stock has a market cap of $14.81 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG) last announced its quarterly earnings data 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). The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $16.32 earnings per share. As a group, sell-side analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, May 28th. Everest Group’s dividend payout ratio is currently 41.15%.

Analyst Upgrades and Downgrades

EG has been the topic of a number of recent research reports. Barclays reduced their price objective on Everest Group from $470.00 to $394.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. UBS Group reduced their price objective on Everest Group from $375.00 to $372.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company reduced their price objective 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. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $397.18.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

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.