ExodusPoint Capital Management LP Acquires 9,827 Shares of Everest Group, Ltd. (NYSE:EG)

ExodusPoint Capital Management LP grew its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1,157.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,676 shares of the company’s stock after purchasing an additional 9,827 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Everest Group were worth $3,870,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Everest Group during the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Everest Group during the third quarter valued at approximately $64,000. Private Trust Co. NA grew its holdings in shares of Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after purchasing an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after buying an additional 64 shares during the period. Finally, Avior Wealth Management LLC increased its stake in shares of Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. 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. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Everest Group currently has an average rating of “Hold” and a consensus price target of $416.50.

Everest Group Stock Performance

Shares of Everest Group stock opened at $337.09 on Monday. The business has a fifty day simple moving average of $350.91 and a two-hundred day simple moving average of $365.44. The firm has a market capitalization of $14.47 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.24 and a beta of 0.43. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12 month low of $322.10 and a 12 month high of $407.30.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

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.