Gitterman Wealth Management LLC Purchases Shares of 850 Everest Group, Ltd. (NYSE:EG)

Gitterman Wealth Management LLC acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 850 shares of the company’s stock, valued at approximately $308,000.

A number of other hedge funds have also modified their holdings of EG. Janney Montgomery Scott LLC increased its stake in Everest Group by 152.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after purchasing an additional 13,687 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Everest Group by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after acquiring an additional 12,791 shares in the last quarter. Brophy Wealth Management LLC acquired a new stake in shares of Everest Group during the third quarter valued at approximately $749,000. Intech Investment Management LLC raised its holdings in shares of Everest Group by 13.1% during the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock valued at $10,706,000 after acquiring an additional 3,166 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Everest Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after acquiring an additional 2,818 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Trading Up 2.8 %

NYSE:EG opened at $359.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $15.43 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.24 and a beta of 0.61. The stock’s 50 day moving average price is $351.55 and its 200 day moving average price is $368.44. Everest Group, Ltd. has a 52 week low of $327.37 and a 52 week high of $407.30.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.23%. Everest Group’s dividend payout ratio (DPR) is currently 25.47%.

Analysts Set New Price Targets

EG has been the topic of several recent analyst reports. TD Cowen cut their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Barclays upped their target price on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $416.50.

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.