Pictet Asset Management Holding SA Buys 221 Shares of Everest Group, Ltd. (NYSE:EG)

Pictet Asset Management Holding SA grew its stake in Everest Group, Ltd. (NYSE:EG) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,602 shares of the company’s stock after acquiring an additional 221 shares during the period. Pictet Asset Management Holding SA’s holdings in Everest Group were worth $8,555,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Everest Group during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the 3rd quarter worth approximately $64,000. Private Trust Co. NA lifted its stake in Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after buying an additional 64 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $76,000 after buying an additional 64 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of Everest Group by 22.4% during the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after acquiring an additional 47 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of NYSE:EG opened at $365.59 on Thursday. Everest Group, Ltd. has a one year low of $327.37 and a one year high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $15.70 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.24 and a beta of 0.61. The firm has a 50 day simple moving average of $351.50 and a 200 day simple moving average of $366.15.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share 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 issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is currently 25.47%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley restated an “equal weight” rating and issued a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and an average target price of $416.50.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

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.