Desjardins Global Asset Management Inc. Purchases Shares of 5,856 Everest Group, Ltd. (NYSE:EG)

Desjardins Global Asset Management Inc. acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,856 shares of the company’s stock, valued at approximately $2,071,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP bought a new position in Everest Group during the fourth quarter valued at $25,000. Janiczek Wealth Management LLC bought a new position in shares of Everest Group in the 4th quarter valued at about $27,000. Trifecta Capital Advisors LLC purchased a new position in Everest Group in the fourth quarter worth about $28,000. Toth Financial Advisory Corp bought a new stake in Everest Group during the fourth quarter worth approximately $46,000. Finally, Sentry Investment Management LLC purchased a new stake in Everest Group during the fourth quarter valued at approximately $80,000. 92.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Roger M. Singer bought 500 shares of the stock in a transaction on Monday, February 12th. The stock was bought at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the acquisition, the director now directly owns 16,920 shares in the company, valued at $6,043,993.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mike Karmilowicz bought 285 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the purchase, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the transaction, 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. Over the last ninety days, insiders have acquired 2,485 shares of company stock worth $874,786. Corporate insiders own 1.40% of the company’s stock.

Everest Group Price Performance

Shares of EG stock opened at $359.95 on Wednesday. The company’s 50-day simple moving average is $376.05 and its two-hundred day simple moving average is $380.50. 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 one year low of $331.08 and a one year high of $417.92. The company has a market capitalization of $19.17 billion, a P/E ratio of 6.03, a P/E/G ratio of 3.17 and a beta of 0.56.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping the consensus estimate of $14.63 by $10.55. The company had revenue of $3.66 billion for 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 quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $12.21 EPS. As a group, equities analysts anticipate that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a dividend yield of 1.94%. Everest Group’s payout ratio is presently 11.72%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EG shares. Wells Fargo & Company cut their target price 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. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $452.00 to $375.00 in a research report on Monday, February 12th. TD Cowen started coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price for the company. Keefe, Bruyette & Woods upped their price target 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 decreased their price objective 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. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and an average price target of $432.11.

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.