Desjardins Global Asset Management Inc. Invests $2.07 Million in Everest Group, Ltd. (NYSE:EG)

Desjardins Global Asset Management Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,856 shares of the company’s stock, valued at approximately $2,071,000.

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

Analyst Ratings Changes

Several analysts recently commented on EG shares. Keefe, Bruyette & Woods upped their target price on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. TD Cowen initiated coverage on shares of Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price for the company. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Morgan Stanley dropped their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.11.

Everest Group Trading Up 0.1 %

Shares of Everest Group stock opened at $359.95 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. Everest Group, Ltd. has a 52 week low of $331.08 and a 52 week high of $417.92. The stock has a 50 day moving average price of $376.05 and a two-hundred day moving average price of $380.50. The stock has a market capitalization of $19.17 billion, a PE ratio of 6.03, a price-to-earnings-growth ratio of 3.17 and a beta of 0.56.

Everest Group (NYSE:EG) last announced 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 analyst estimates of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. Everest Group’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $12.21 EPS. As a group, equities analysts anticipate that Everest Group, Ltd. will post 61.21 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders 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 yield of 1.94%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is currently 11.72%.

Insider Transactions at Everest Group

In related news, CEO Mike Karmilowicz bought 285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $352.39 per share, with a total value of $100,431.15. Following the completion of the transaction, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mike Karmilowicz purchased 285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the transaction, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Kociancic purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the acquisition, the chief financial officer now owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Insiders purchased a total of 2,485 shares of company stock valued at $874,786 over the last ninety days. 1.40% of the stock is currently owned by insiders.

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.