Prospector Partners LLC Has $20.67 Million Position in Everest Group, Ltd. (NYSE:EG)

Prospector Partners LLC grew its position in Everest Group, Ltd. (NYSE:EG) by 31.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,031 shares of the company’s stock after purchasing an additional 13,530 shares during the quarter. Everest Group comprises approximately 2.3% of Prospector Partners LLC’s investment portfolio, making the stock its 8th biggest position. Prospector Partners LLC owned about 0.13% of Everest Group worth $20,671,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in Everest Group by 33.4% during the fourth quarter. Russell Investments Group Ltd. now owns 39,636 shares of the company’s stock worth $14,363,000 after acquiring an additional 9,915 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Everest Group by 352.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 153,938 shares of the company’s stock worth $55,796,000 after purchasing an additional 119,944 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Everest Group by 37.3% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 50,216 shares of the company’s stock worth $18,201,000 after purchasing an additional 13,650 shares during the period. Aviva PLC raised its position in shares of Everest Group by 105.0% in the fourth quarter. Aviva PLC now owns 26,043 shares of the company’s stock valued at $9,440,000 after buying an additional 13,338 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Everest Group by 66.9% in the fourth quarter. Wells Fargo & Company MN now owns 18,393 shares of the company’s stock valued at $6,667,000 after buying an additional 7,372 shares during the period. Institutional investors own 92.64% of the company’s stock.

Everest Group Trading Down 6.8 %

EG opened at $337.09 on Friday. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.24 and a beta of 0.43. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The company’s 50 day moving average price is $350.91 and its two-hundred day moving average price is $365.60. 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 quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate 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 predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is currently 25.47%.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This trade represents 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. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EG. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Wells Fargo & Company cut their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their target price 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. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Barclays lifted their price objective on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus 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.