KLP Kapitalforvaltning AS Buys New Position in Everest Group, Ltd. (NYSE:EG)

KLP Kapitalforvaltning AS purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the fourth quarter, Holdings Channel.com reports. The fund purchased 14,641 shares of the company’s stock, valued at approximately $5,307,000.

A number of other institutional investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Everest Group during the fourth quarter worth approximately $31,000. Brooklyn Investment Group acquired a new position in shares of Everest Group during the 3rd quarter valued at $39,000. Private Trust Co. NA raised its stake in shares of Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after buying an additional 45 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Everest Group in the third quarter valued at $64,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after buying an additional 64 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Up 0.8 %

Shares of NYSE:EG opened at $362.05 on Wednesday. The firm has a 50 day simple moving average of $351.13 and a 200 day simple moving average of $366.73. Everest Group, Ltd. has a 52 week low of $327.37 and a 52 week high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $15.54 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last released its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.21%. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Wells Fargo & Company dropped their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their price target for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $416.50.

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.