CIBC Asset Management Inc Buys 259 Shares of Everest Group, Ltd. (NYSE:EG)

CIBC Asset Management Inc lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 6,568 shares of the company’s stock after acquiring an additional 259 shares during the quarter. CIBC Asset Management Inc’s holdings in Everest Group were worth $2,381,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and raised their target price for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Morgan Stanley reissued an “equal weight” rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Barclays lifted their target price on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, TD Cowen dropped their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Everest Group currently has an average rating of “Hold” and a consensus target price of $416.50.

Everest Group Stock Down 0.2 %

Shares of EG stock opened at $337.40 on Friday. Everest Group, Ltd. has a 52-week low of $327.37 and a 52-week high of $407.30. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.23 and a beta of 0.65. The firm’s 50-day moving average is $353.32 and its 200-day moving average is $370.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) 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%. Sell-side analysts predict that Everest Group, Ltd. will post 50.51 EPS for the current year.

About Everest Group

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.