Amalgamated Bank Purchases Shares of 15,954 Everest Group, Ltd. (NYSE:EG)

Amalgamated Bank acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 15,954 shares of the company’s stock, valued at approximately $5,641,000.

A number of other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP bought a new position in shares of Everest Group in the 4th quarter valued at about $25,000. Avior Wealth Management LLC purchased a new stake in Everest Group during the fourth quarter valued at approximately $25,000. Headlands Technologies LLC bought a new stake in shares of Everest Group in the 4th quarter valued at approximately $25,000. Janiczek Wealth Management LLC purchased a new position in shares of Everest Group in the 4th quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in Everest Group during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Transactions at Everest Group

In other Everest Group news, CEO Mike Karmilowicz bought 285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the purchase, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the purchase, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mike Karmilowicz acquired 285 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the acquisition, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Insiders have bought a total of 2,485 shares of company stock valued at $874,786 in the last 90 days. Insiders own 1.20% of the company’s stock.

Everest Group Price Performance

Shares of EG opened at $379.00 on Tuesday. The stock has a market capitalization of $20.19 billion, a PE ratio of 5.63, a PEG ratio of 3.25 and a beta of 0.57. The company has a 50 day moving average price of $376.26 and a 200-day moving average price of $378.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.37 and a current ratio of 0.35. 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 earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $11.31 EPS. Equities analysts predict that Everest Group, Ltd. will post 61.49 earnings per share for the current fiscal year.

Everest Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EG. TD Cowen began coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price for the company. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Keefe, Bruyette & Woods raised their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley cut their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, Wells Fargo & Company lowered their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and an average price target of $432.11.

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.