Empirical Asset Management LLC Buys Shares of 30,581 Everest Group, Ltd. (NYSE:EG)

Empirical Asset Management LLC purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,581 shares of the company’s stock, valued at approximately $11,084,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its position in Everest Group by 284.8% during the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after buying an additional 18,175 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Everest Group during the 2nd quarter valued at about $921,000. JPMorgan Chase & Co. lifted its holdings in shares of Everest Group by 19.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after acquiring an additional 12,791 shares during the period. Brophy Wealth Management LLC acquired a new stake in shares of Everest Group in the third quarter worth approximately $749,000. Finally, Intech Investment Management LLC boosted its position in shares of Everest Group by 13.1% in the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after acquiring an additional 3,166 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE:EG opened at $360.29 on Friday. The business’s 50-day simple moving average is $368.04 and its 200 day simple moving average is $376.39. The company has a market cap of $15.49 billion, a P/E ratio of 5.64, a PEG ratio of 2.33 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $407.30.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.22%. Everest Group’s dividend payout ratio is currently 12.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EG shares. Bank of America cut their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company cut their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday. BMO Capital Markets raised Everest Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $372.00 to $453.00 in a research report on Friday, January 10th. TD Cowen cut their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Barclays decreased their target price on Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $435.44.

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.