Adage Capital Partners GP L.L.C. Acquires 39,400 Shares of Everest Group, Ltd. (NYSE:EG)

Adage Capital Partners GP L.L.C. boosted its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 128.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,181 shares of the company’s stock after buying an additional 39,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.16% of Everest Group worth $25,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in Everest Group in the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Everest Group in the 3rd quarter worth $64,000. Private Trust Co. NA increased its holdings in shares of Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after buying an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Everest Group by 43.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after buying an additional 64 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in shares of Everest Group by 22.4% in the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after acquiring an additional 47 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

Shares of EG opened at $353.32 on Friday. The firm has a market capitalization of $16.88 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The company’s fifty day moving average price is $352.06 and its 200-day moving average price is $360.98. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. On average, equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Insider Activity

In other 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 transaction, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $376.00 to $415.00 in a research report on Friday, April 11th. UBS Group cut their price objective on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Barclays lowered their target price on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Wells Fargo & Company dropped their price objective on Everest Group from $370.00 to $362.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Finally, BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $396.00.

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.