IFM Investors Pty Ltd Purchases Shares of 10,282 Everest Group, Ltd. (NYSE:EG)

IFM Investors Pty Ltd acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,282 shares of the company’s stock, valued at approximately $4,087,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EG. Assenagon Asset Management S.A. bought a new stake in Everest Group in the 4th quarter valued at approximately $1,866,000. Red Door Wealth Management LLC acquired a new position in Everest Group during the fourth quarter worth $237,000. Uncommon Cents Investing LLC bought a new position in Everest Group in the fourth quarter valued at $1,016,000. Traynor Capital Management Inc. acquired a new stake in Everest Group in the 4th quarter valued at $466,000. Finally, Global Retirement Partners LLC bought a new stake in Everest Group during the 4th quarter worth about $102,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EG has been the subject of several analyst reports. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $452.00 to $375.00 in a report on Monday, February 12th. Wells Fargo & Company decreased their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. TD Cowen initiated coverage on Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley cut their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. 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. Based on data from MarketBeat, Everest Group currently has an average rating of “Moderate Buy” and an average price target of $432.11.

Insider Buying and Selling

In other Everest Group news, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $357.21 per share, with a total value of $178,605.00. Following the completion of the purchase, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Everest Group news, COO James Allan Williamson purchased 700 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $352.50 per share, with a total value of $246,750.00. Following the completion of the purchase, the chief operating officer now owns 11,749 shares of the company’s stock, valued at $4,141,522.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roger M. Singer purchased 500 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the acquisition, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,485 shares of company stock worth $874,786. Corporate insiders own 1.20% of the company’s stock.

Everest Group Price Performance

NYSE EG traded down $1.06 during midday trading on Friday, hitting $364.70. The company had a trading volume of 294,127 shares, compared to its average volume of 289,171. The firm has a 50-day moving average price of $375.92 and a 200-day moving average price of $379.71. The company has a market capitalization of $19.42 billion, a PE ratio of 6.11, a P/E/G ratio of 3.23 and a beta of 0.56. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. Everest Group’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $12.21 earnings per share. As a group, analysts anticipate that Everest Group, Ltd. will post 61.23 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

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.