Los Angeles Capital Management LLC Makes New Investment in Everest Group, Ltd. (NYSE:EG)

Los Angeles Capital Management LLC acquired a new stake in Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 361,309 shares of the company’s stock, valued at approximately $127,752,000. Los Angeles Capital Management LLC owned about 0.83% of Everest Group at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. New York State Common Retirement Fund acquired a new stake in Everest Group during the fourth quarter worth about $13,273,000. Everence Capital Management Inc. purchased a new position in shares of Everest Group during the 4th quarter valued at approximately $1,004,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Everest Group in the 4th quarter valued at $904,000. Daiwa Securities Group Inc. purchased a new stake in Everest Group during the fourth quarter worth $1,400,000. Finally, Uncommon Cents Investing LLC acquired a new stake in Everest Group during the fourth quarter valued at $1,016,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

EG traded up $2.57 on Thursday, hitting $372.47. 251,449 shares of the company’s stock were exchanged, compared to its average volume of 371,531. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. The stock has a market cap of $19.84 billion, a price-to-earnings ratio of 5.50, a P/E/G ratio of 3.23 and a beta of 0.57. The firm has a 50-day moving average price of $376.01 and a 200-day moving average price of $378.94. The company has a current ratio of 0.35, a quick ratio of 0.37 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. Everest Group’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the business posted $11.31 earnings per share. As a group, equities analysts anticipate that Everest Group, Ltd. will post 61.23 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a yield of 1.88%. Everest Group’s payout ratio is 10.40%.

Insiders Place Their Bets

In other news, Director Roger M. Singer acquired 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the acquisition, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, COO James Allan Williamson acquired 700 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the acquisition, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 2,485 shares of company stock valued at $874,786. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup downgraded shares of Everest Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Keefe, Bruyette & Woods increased their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley reduced their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Wells Fargo & Company dropped their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Finally, TD Cowen initiated coverage on shares of Everest Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $432.11.

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.