Pictet Asset Management Holding SA Has $8.56 Million Stock Position in Everest Group, Ltd. (NYSE:EG)

Pictet Asset Management Holding SA boosted its position in Everest Group, Ltd. (NYSE:EG) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,602 shares of the company’s stock after buying an additional 221 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.05% of Everest Group worth $8,555,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EG. Norges Bank acquired a new position in shares of Everest Group during the fourth quarter worth approximately $488,588,000. World Investment Advisors LLC acquired a new position in Everest Group during the 3rd quarter valued at $120,564,000. Raymond James Financial Inc. bought a new stake in Everest Group in the 4th quarter valued at $48,290,000. Truist Financial Corp grew its position in Everest Group by 7,580.7% in the 4th quarter. Truist Financial Corp now owns 92,936 shares of the company’s stock worth $33,686,000 after purchasing an additional 91,726 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Everest Group by 21.5% during the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock worth $160,988,000 after purchasing an additional 72,822 shares during the period. Institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EG. Keefe, Bruyette & Woods lifted their target price on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Barclays boosted their price objective on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $416.50.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Everest Group Price Performance

NYSE:EG opened at $365.59 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm has a market cap of $15.70 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30. The company’s 50-day moving average price is $351.50 and its two-hundred day moving average price is $366.15.

Everest Group (NYSE:EG) last released its quarterly 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 return on equity of 9.04% and a net margin of 7.95%. On average, equities analysts anticipate 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. Investors of record on Monday, March 17th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.19%. Everest Group’s dividend payout ratio is 25.47%.

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.