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

Grace & White Inc. NY acquired a new position in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,282 shares of the company’s stock, valued at approximately $16,718,000. Everest Group makes up 2.9% of Grace & White Inc. NY’s portfolio, making the stock its 8th biggest holding. Grace & White Inc. NY owned about 0.11% of Everest Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. California Public Employees Retirement System acquired a new stake in shares of Everest Group during the fourth quarter valued at $58,360,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Everest Group during the fourth quarter valued at $39,992,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Everest Group during the fourth quarter valued at $35,503,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Everest Group during the fourth quarter valued at $31,810,000. Finally, Strs Ohio acquired a new stake in Everest Group in the 4th quarter worth about $23,980,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE EG traded down $4.41 during trading on Tuesday, reaching $368.43. The stock had a trading volume of 285,044 shares, compared to its average volume of 369,519. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market cap of $19.62 billion, a PE ratio of 6.17, a P/E/G ratio of 3.27 and a beta of 0.56. The firm’s 50 day moving average price is $376.19 and its two-hundred day moving average price is $380.08.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. The firm 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%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $12.21 EPS. On average, research analysts forecast that Everest Group, Ltd. will post 61.21 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

Insider Transactions at Everest Group

In other Everest Group news, Director Roger M. Singer purchased 500 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Roger M. Singer bought 500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price 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 filing with the SEC, which is available at this link. Also, COO James Allan Williamson bought 700 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, with a total value of $246,750.00. Following the purchase, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at $4,141,522.50. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,485 shares of company stock valued at $874,786. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on EG shares. Keefe, Bruyette & Woods raised their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Wells Fargo & Company reduced their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Morgan Stanley reduced 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, April 15th. Finally, TD Cowen initiated coverage on Everest Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price objective on the stock. Three research 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. According to MarketBeat.com, Everest Group currently has an average rating of “Moderate Buy” and an average 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.