F M Investments LLC Takes Position in Everest Group, Ltd. (NYSE:EG)

F M Investments LLC acquired a new stake in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, Holdings Channel.com reports. The firm acquired 4,433 shares of the company’s stock, valued at approximately $1,567,000.

A number of other institutional investors have also made changes to their positions in the stock. California Public Employees Retirement System bought a new position in shares of Everest Group in the 4th quarter valued at approximately $58,360,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Everest Group in the 4th quarter worth approximately $39,992,000. Zweig DiMenna Associates LLC bought a new position in Everest Group in the 4th quarter worth approximately $35,503,000. Allspring Global Investments Holdings LLC bought a new position in Everest Group in the 4th quarter worth approximately $31,810,000. Finally, Strs Ohio bought a new position in Everest Group in the 4th quarter worth approximately $23,980,000. 92.64% of the stock is owned by institutional investors.

Everest Group Stock Performance

Shares of EG traded down $4.41 on Tuesday, reaching $368.43. 285,044 shares of the stock traded hands, compared to its average volume of 369,519. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 3.27 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92. The stock’s 50-day moving average price is $376.19 and its 200-day moving average price is $380.08.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. Everest Group’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $12.21 earnings per share. Equities analysts forecast that Everest Group, Ltd. will post 61.21 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is 11.72%.

Wall Street Analysts Forecast Growth

EG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. TD Cowen initiated coverage on Everest Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target on the stock. Wells Fargo & Company dropped their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Finally, Morgan Stanley dropped their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Insider Activity at Everest Group

In related news, COO James Allan Williamson purchased 700 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $352.50 per share, with a total value of $246,750.00. Following the purchase, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of Everest Group stock in a transaction on Friday, February 9th. The shares were bought at an average price of $349.00 per share, with a total value of $349,000.00. Following the completion of the purchase, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO James Allan Williamson acquired 700 shares of Everest Group stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the purchase, the chief operating officer now owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,485 shares of company stock valued at $874,786 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

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.