Goldman Sachs Group Inc. Makes New $44.43 Million Investment in Everest Group, Ltd. (NYSE:EG)

Goldman Sachs Group Inc. 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 (SEC). The institutional investor purchased 125,667 shares of the company’s stock, valued at approximately $44,434,000. Goldman Sachs Group Inc. owned approximately 0.29% of Everest Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. Allworth Financial LP bought a new position in shares of Everest Group in the fourth quarter valued at about $25,000. Avior Wealth Management LLC bought a new position in shares of Everest Group in the fourth quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of Everest Group in the fourth quarter valued at about $25,000. Janiczek Wealth Management LLC bought a new position in shares of Everest Group in the fourth quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Everest Group in the fourth quarter valued at about $28,000. 92.64% of the stock is owned by institutional investors.

Everest Group Trading Up 0.8 %

Shares of Everest Group stock opened at $380.25 on Friday. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 5.65, a PEG ratio of 3.31 and a beta of 0.62. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92. The firm’s 50-day moving average price is $377.57 and its two-hundred day moving average price is $375.50.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share (EPS) 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 the consensus estimate of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the company posted $11.31 earnings per share. On average, analysts forecast that Everest Group, Ltd. will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a $2.00 dividend. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EG shares. Morgan Stanley dropped their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Wells Fargo & Company lowered 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 report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

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.