Machina Capital S.A.S. Acquires Shares of 1,846 Everest Group, Ltd. (NYSE:EG)

Machina Capital S.A.S. acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,846 shares of the company’s stock, valued at approximately $653,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EG. Assenagon Asset Management S.A. acquired a new stake in Everest Group in the 4th quarter valued at about $1,866,000. Red Door Wealth Management LLC acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $237,000. Uncommon Cents Investing LLC acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $1,016,000. Traynor Capital Management Inc. acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $466,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $102,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Trading Up 2.5 %

NYSE EG traded up $9.35 during trading on Monday, reaching $379.00. 286,408 shares of the stock traded hands, compared to its average volume of 371,900. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of 5.49, a price-to-earnings-growth ratio of 3.25 and a beta of 0.57. The stock’s 50-day moving average price is $376.02 and its 200 day moving average price is $378.25. The company has a quick ratio of 0.37, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the firm posted $11.31 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. Analysts predict that Everest Group, Ltd. will post 61.49 EPS for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Monday, March 18th. Everest Group’s payout ratio is currently 10.40%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EG shares. TD Cowen started coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target for the company. Morgan Stanley lowered their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Wells Fargo & Company lowered their price target on shares of 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. Keefe, Bruyette & Woods boosted their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $452.00 to $375.00 in a report on Monday, February 12th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Insider Buying and Selling at Everest Group

In related news, CFO Mark Kociancic purchased 1,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $349.00 per share, with a total value of $349,000.00. Following the completion of the purchase, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $349.00 per share, with a total value of $349,000.00. Following the completion of the transaction, the chief financial officer now directly owns 25,733 shares in the company, valued at approximately $8,980,817. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger M. Singer acquired 500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,485 shares of company stock valued at $874,786. 1.20% of the stock is currently owned by corporate insiders.

Everest Group 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.