Alaska Permanent Fund Corp Acquires New Position in Everest Group, Ltd. (NYSE:EG)

Alaska Permanent Fund Corp purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,339 shares of the company’s stock, valued at approximately $2,595,000.

A number of other institutional investors also recently made changes to their positions in the business. F M Investments LLC bought a new position in shares of Everest Group during the fourth quarter valued at about $1,567,000. Yousif Capital Management LLC purchased a new position in shares of Everest Group during the fourth quarter valued at about $2,151,000. Cutter & CO Brokerage Inc. purchased a new position in shares of Everest Group during the fourth quarter valued at about $309,000. Grace & White Inc. NY purchased a new position in shares of Everest Group during the fourth quarter valued at about $16,718,000. Finally, GAMMA Investing LLC purchased a new position in shares of Everest Group during the fourth quarter valued at about $126,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

EG has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company reduced their price target on shares of 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. TD Cowen assumed coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price objective on the stock. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Finally, Morgan Stanley cut their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $432.11.

Insider Activity at Everest Group

In related news, CEO Mike Karmilowicz acquired 285 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Everest Group news, Director Roger M. Singer purchased 500 shares of the firm’s stock in a transaction on 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 $6,043,993.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mike Karmilowicz purchased 285 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the transaction, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,485 shares of company stock worth $874,786 over the last quarter. Company insiders own 1.20% of the company’s stock.

Everest Group Stock Down 0.6 %

Shares of NYSE:EG traded down $2.06 during trading on Thursday, reaching $363.68. 9,340 shares of the stock traded hands, compared to its average volume of 364,543. The stock has a 50-day moving average of $376.20 and a two-hundred day moving average of $379.91. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week 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 $19.37 billion, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 3.26 and a beta of 0.56.

Everest Group (NYSE:EG) last posted its quarterly 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 firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $12.21 earnings per share. As a group, sell-side analysts expect that Everest Group, Ltd. will post 61.21 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a yield of 1.92%. Everest Group’s dividend payout ratio (DPR) is 11.72%.

Everest Group 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.