Lighthouse Investment Partners LLC Takes Position in Everest Group, Ltd. (NYSE:EG)

Lighthouse Investment Partners LLC bought a new stake in Everest Group, Ltd. (NYSE:EGFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,537 shares of the company’s stock, valued at approximately $1,251,000.

A number of other large investors also recently made changes to their positions in EG. Lingohr Asset Management GmbH bought a new stake in shares of Everest Group in the 4th quarter valued at approximately $588,000. Sei Investments Co. bought a new stake in shares of Everest Group in the 4th quarter valued at approximately $33,504,000. Capital Fund Management S.A. bought a new stake in Everest Group during the fourth quarter worth approximately $19,402,000. Shell Asset Management Co. bought a new stake in Everest Group during the fourth quarter worth approximately $3,669,000. Finally, EHP Funds Inc. bought a new stake in Everest Group during the fourth quarter worth approximately $354,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analysts Set New Price Targets

EG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley reduced their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Finally, Wells Fargo & Company reduced their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Get Our Latest Stock Analysis on Everest Group

Everest Group Stock Performance

Everest Group stock opened at $381.69 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a fifty day moving average price of $378.35 and a two-hundred day moving average price of $377.10. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The firm has a market capitalization of $16.59 billion, a P/E ratio of 5.67, a P/E/G ratio of 3.36 and a beta of 0.62.

Everest Group (NYSE:EGGet Free Report) last released its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the company posted $11.31 earnings per share. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, analysts anticipate that Everest Group, Ltd. will post 61.65 EPS for the current fiscal year.

Everest Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th will be paid a $2.00 dividend. The ex-dividend date is Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.10%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Everest Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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