Prudential PLC Purchases 6,406 Shares of Everest Group, Ltd. (NYSE:EG)

Prudential PLC boosted its position in Everest Group, Ltd. (NYSE:EG) by 249.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,979 shares of the company’s stock after purchasing an additional 6,406 shares during the period. Prudential PLC’s holdings in Everest Group were worth $3,255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PAX Financial Group LLC increased its position in shares of Everest Group by 2.4% during the 4th quarter. PAX Financial Group LLC now owns 2,393 shares of the company’s stock valued at $867,000 after purchasing an additional 55 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in Everest Group in the fourth quarter valued at about $56,341,000. ExodusPoint Capital Management LP grew its position in shares of Everest Group by 1,157.5% during the 4th quarter. ExodusPoint Capital Management LP now owns 10,676 shares of the company’s stock valued at $3,870,000 after acquiring an additional 9,827 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Everest Group during the 4th quarter worth approximately $320,000. Finally, World Investment Advisors raised its holdings in shares of Everest Group by 19.1% in the 4th quarter. World Investment Advisors now owns 1,062 shares of the company’s stock worth $385,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their target price on 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. Barclays boosted their price target 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. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $453.00 to $375.00 in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $416.50.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the business’s 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 sale, the director now owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Everest Group Price Performance

Shares of NYSE EG opened at $337.09 on Friday. 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 quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $350.91 and its two-hundred day simple moving average is $365.60. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30.

Everest Group (NYSE:EG) last posted 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 return on equity of 9.04% and a net margin of 7.95%. As a group, equities analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio is currently 25.47%.

Everest Group Company 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.