Oppenheimer & Co. Inc. Grows Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Oppenheimer & Co. Inc. raised its stake in Everest Group, Ltd. (NYSE:EG) by 172.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,071 shares of the company’s stock after buying an additional 10,814 shares during the period. Oppenheimer & Co. Inc.’s holdings in Everest Group were worth $6,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of Everest Group in the 3rd quarter worth approximately $39,000. Private Trust Co. NA lifted its position in shares of Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after purchasing an additional 45 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Everest Group in the 3rd quarter worth approximately $64,000. Avior Wealth Management LLC lifted its position in shares of Everest Group by 22.4% in the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after purchasing an additional 47 shares during the period. Finally, Steph & Co. lifted its position in shares of Everest Group by 10.6% in the 4th quarter. Steph & Co. now owns 366 shares of the company’s stock worth $133,000 after purchasing an additional 35 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Up 1.7 %

NYSE:EG opened at $353.45 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. 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 $15.19 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.24 and a beta of 0.65. The firm has a 50 day moving average of $352.65 and a 200 day moving average of $370.08.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.26%. Everest Group’s payout ratio is 25.47%.

Analyst Ratings Changes

EG has been the subject of several research reports. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. TD Cowen lowered their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company decreased their target price 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. Finally, BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Everest Group presently 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.