Grace & White Inc. NY Makes New Investment in Everest Group, Ltd. (NYSE:EG)

Grace & White Inc. NY bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 47,282 shares of the company’s stock, valued at approximately $16,718,000. Everest Group makes up approximately 2.9% of Grace & White Inc. NY’s portfolio, making the stock its 8th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EG. GAMMA Investing LLC bought a new stake in shares of Everest Group in the fourth quarter valued at about $126,000. Harbor Advisors LLC bought a new stake in shares of Everest Group in the fourth quarter valued at about $1,768,000. Parkside Financial Bank & Trust bought a new stake in shares of Everest Group in the fourth quarter valued at about $48,000. Larson Financial Group LLC bought a new stake in shares of Everest Group in the fourth quarter valued at about $47,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Everest Group in the fourth quarter valued at about $13,273,000. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

NYSE:EG traded down $4.41 during trading hours on Tuesday, reaching $368.43. 285,044 shares of the company were exchanged, compared to its average volume of 369,519. The company has a market capitalization of $19.62 billion, a P/E ratio of 6.17, a P/E/G ratio of 3.27 and a beta of 0.56. Everest Group, Ltd. has a 1-year low of $331.08 and a 1-year high of $417.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50 day moving average of $376.19 and a 200 day moving average of $380.08.

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. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the prior year, the company earned $12.21 EPS. Everest Group’s revenue was up 12.4% compared to the same quarter last year. Research analysts forecast that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Dividend Announcement

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

Insider Activity at Everest Group

In related news, CFO Mark Kociancic acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark Kociancic acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger M. Singer acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the acquisition, the director now directly owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. Insiders purchased 2,485 shares of company stock worth $874,786 over the last three months. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on EG. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $452.00 to $375.00 in a report on Monday, February 12th. Wells Fargo & Company lowered 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. Morgan Stanley decreased their target price 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. TD Cowen assumed coverage on Everest Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price on the stock. Finally, 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 research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

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.