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

Allstate Corp purchased a new position in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,397 shares of the company’s stock, valued at approximately $506,000.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Everest Group during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in Everest Group in the 3rd quarter worth $64,000. Private Trust Co. NA lifted its position in shares of Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after purchasing an additional 64 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Everest Group by 43.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after purchasing an additional 64 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Everest Group by 22.4% during the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Transactions at Everest Group

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

Everest Group Stock Performance

Shares of Everest Group stock opened at $365.12 on Wednesday. Everest Group, Ltd. has a 1 year low of $327.37 and a 1 year high of $407.30. The firm’s 50-day moving average is $351.47 and its 200 day moving average is $366.15. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.24 and a beta of 0.61. 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 issued its earnings results 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 return on equity of 9.04% and a net margin of 7.95%. Sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

Analyst Ratings Changes

EG has been the topic of several research reports. Wells Fargo & Company cut their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays upped their price target on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $416.50.

Everest Group 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.