Twin Capital Management Inc. Invests $3.62 Million in Everest Group, Ltd. (NYSE:EG)

Twin Capital Management Inc. purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the fourth quarter, Holdings Channel reports. The firm purchased 10,238 shares of the company’s stock, valued at approximately $3,620,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new stake in Everest Group during the fourth quarter worth $3,720,000. Daiwa Securities Group Inc. purchased a new position in Everest Group in the fourth quarter valued at $1,400,000. Steph & Co. purchased a new position in Everest Group in the fourth quarter valued at $119,000. Key Financial Inc purchased a new stake in Everest Group during the 4th quarter worth about $56,000. Finally, Avior Wealth Management LLC purchased a new stake in Everest Group during the 4th quarter worth about $25,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on EG shares. 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. Keefe, Bruyette & Woods lifted their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. TD Cowen began coverage on Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Morgan Stanley cut 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. Finally, 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. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Everest Group has an average rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Stock Performance

EG stock traded down $0.63 during trading on Thursday, hitting $356.51. The company had a trading volume of 140,432 shares, compared to its average volume of 368,108. The firm has a market cap of $18.99 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 3.18 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 firm has a 50-day moving average price of $375.51 and a 200-day moving average price of $380.33. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.63 by $10.55. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $12.21 EPS. On average, analysts expect that Everest Group, Ltd. will post 61.21 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO Mike Karmilowicz acquired 285 shares of the stock in a transaction 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 acquisition, the chief executive officer now owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mike Karmilowicz purchased 285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $352.39 per share, with a total value of $100,431.15. Following the purchase, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roger M. Singer purchased 500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the purchase, the director now directly owns 16,920 shares in the company, valued at $6,043,993.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,485 shares of company stock valued at $874,786. 1.40% of the stock is owned by corporate insiders.

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.