Frontier Capital Management Co. LLC Boosts Position in Everest Group, Ltd. (NYSE:EG)

Frontier Capital Management Co. LLC grew its position in Everest Group, Ltd. (NYSE:EG) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,815 shares of the company’s stock after acquiring an additional 1,626 shares during the period. Frontier Capital Management Co. LLC owned about 0.12% of Everest Group worth $18,781,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. purchased a new stake in Everest Group in the fourth quarter valued at approximately $5,093,000. Deutsche Bank AG increased its position in Everest Group by 28.4% in the 4th quarter. Deutsche Bank AG now owns 232,730 shares of the company’s stock valued at $84,355,000 after acquiring an additional 51,492 shares during the period. Deprince Race & Zollo Inc. lifted its stake in shares of Everest Group by 67.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 92,745 shares of the company’s stock worth $33,616,000 after acquiring an additional 37,303 shares during the period. Colonial Trust Co SC grew its holdings in Everest Group by 141.7% during the fourth quarter. Colonial Trust Co SC now owns 597 shares of the company’s stock worth $216,000 after acquiring an additional 350 shares during the period. Finally, Cornerstone Select Advisors LLC purchased a new position in Everest Group in the fourth quarter valued at about $451,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now directly owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Everest Group Stock Up 1.5 %

Shares of EG stock opened at $347.14 on Friday. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. The firm has a market capitalization of $16.59 billion, a P/E ratio of 11.05, a PEG ratio of 0.24 and a beta of 0.58. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $352.94 and its two-hundred day moving average price is $358.47.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $16.32 EPS. On average, equities analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, March 17th. Everest Group’s payout ratio is 41.15%.

Analysts Set New Price Targets

EG has been the subject of a number of recent research reports. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays lowered their price target on 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 lowered their price objective on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods lowered their price objective on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $397.18.

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.