Allstate Corp Buys Shares of 1,397 Everest Group, Ltd. (NYSE:EG)

Allstate Corp purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,397 shares of the company’s stock, valued at approximately $506,000.

Several other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in Everest Group by 152.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after purchasing an additional 13,687 shares during the period. JPMorgan Chase & Co. boosted its holdings in Everest Group by 19.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after buying an additional 12,791 shares during the period. Brophy Wealth Management LLC purchased a new position in Everest Group in the 3rd quarter valued at approximately $749,000. Principal Financial Group Inc. raised its holdings in Everest Group by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after acquiring an additional 2,818 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of Everest Group by 3.9% during the third quarter. Stifel Financial Corp now owns 4,347 shares of the company’s stock worth $1,704,000 after acquiring an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

EG stock opened at $365.12 on Wednesday. The firm has a 50 day simple moving average of $351.47 and a two-hundred day simple moving average of $366.15. The stock has a market cap of $15.68 billion, a PE ratio of 11.62, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a one year low of $327.37 and a one year high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG) last released its earnings results on Monday, February 3rd. The company reported ($18.39) 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%. On average, analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EG shares. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays upped their price target on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Keefe, Bruyette & Woods raised their price objective 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 target price (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Wells Fargo & Company cut their price target 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. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $416.50.

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.