Norges Bank Takes $488.59 Million Position in Everest Group, Ltd. (NYSE:EG)

Norges Bank bought a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,347,979 shares of the company’s stock, valued at approximately $488,588,000. Norges Bank owned about 3.14% of Everest Group at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EG. Dakota Wealth Management raised its stake in shares of Everest Group by 1.7% during the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock valued at $705,000 after acquiring an additional 32 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in Everest Group by 19.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after purchasing an additional 32 shares during the last quarter. Steph & Co. lifted its holdings in Everest Group by 10.6% in the 4th quarter. Steph & Co. now owns 366 shares of the company’s stock worth $133,000 after buying an additional 35 shares during the period. Lester Murray Antman dba SimplyRich grew its position in shares of Everest Group by 2.7% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after buying an additional 35 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its stake in shares of Everest Group by 5.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 661 shares of the company’s stock valued at $239,000 after buying an additional 37 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Down 1.6 %

EG stock opened at $361.50 on Friday. The business has a 50 day moving average of $351.43 and a 200 day moving average of $366.55. The firm has a market cap of $15.52 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30. 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 (NYSE:EG) last issued its quarterly earnings results 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 net margin of 7.95% and a return on equity of 9.04%. On average, research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared 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 2.21%. The ex-dividend date was Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Analyst Ratings Changes

Several research firms recently weighed in on EG. Barclays lifted their price target on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus price target of $416.50.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by insiders.

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.