Geode Capital Management LLC Increases Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Geode Capital Management LLC boosted its stake in Everest Group, Ltd. (NYSE:EG) by 0.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,164,081 shares of the company’s stock after buying an additional 8,321 shares during the quarter. Geode Capital Management LLC’s holdings in Everest Group were worth $424,344,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Everest Group during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB acquired a new stake in Everest Group during the 3rd quarter valued at approximately $64,000. Private Trust Co. NA raised its position in shares of Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after purchasing an additional 64 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Everest Group by 43.5% during the 4th 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 last quarter. Finally, Avior Wealth Management LLC grew 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 buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE EG opened at $337.09 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $350.91 and its two-hundred day moving average price is $365.75. Everest Group, Ltd. has a 52-week low of $327.37 and a 52-week high of $407.30. The stock 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.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (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%. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current 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 2.37%. The ex-dividend date was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is 25.47%.

Insider Transactions 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 value 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 represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EG shares. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Barclays upped their target price on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. 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. Wells Fargo & Company lowered their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.