Harbor Advisors LLC Makes New $1.77 Million Investment in Everest Group, Ltd. (NYSE:EG)

Harbor Advisors LLC purchased a new position in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $1,768,000.

Several other large investors also recently modified their holdings of the business. Everence Capital Management Inc. bought a new position in shares of Everest Group during the fourth quarter worth about $1,004,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Everest Group during the fourth quarter worth about $904,000. Uncommon Cents Investing LLC bought a new position in shares of Everest Group during the fourth quarter worth about $1,016,000. Mackenzie Financial Corp bought a new position in shares of Everest Group during the fourth quarter worth about $15,446,000. Finally, Oak Thistle LLC bought a new position in shares of Everest Group during the fourth quarter worth about $2,717,000. 92.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on EG shares. Keefe, Bruyette & Woods increased their price target on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. TD Cowen began coverage on Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Morgan Stanley lowered 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. Wells Fargo & Company lowered 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. Finally, Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Insider Activity

In other Everest Group news, CEO Mike Karmilowicz bought 285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the purchase, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Everest Group news, Director Roger M. Singer acquired 500 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mike Karmilowicz bought 285 shares of the firm’s 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 completion of the purchase, the chief executive officer now owns 10,586 shares in the company, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,485 shares of company stock valued at $874,786. 1.20% of the stock is currently owned by insiders.

Everest Group Stock Performance

Everest Group stock traded down $4.17 during trading on Tuesday, hitting $368.67. The stock had a trading volume of 285,044 shares, compared to its average volume of 369,519. Everest Group, Ltd. has a 1 year low of $331.08 and a 1 year high of $417.92. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $376.19 and its two-hundred day moving average is $380.08. The stock has a market cap of $19.64 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 3.27 and a beta of 0.56.

Everest Group (NYSE:EG) last released its 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. The business 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 was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.21 earnings per share. As a group, analysts predict that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors 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 dividend on an annualized basis and a yield of 1.90%. Everest Group’s dividend payout ratio is presently 11.72%.

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.