Mackenzie Financial Corp Invests $15.45 Million in Everest Group, Ltd. (NYSE:EG)

Mackenzie Financial Corp bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 43,686 shares of the company’s stock, valued at approximately $15,446,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Everest Group during the 4th quarter valued at $1,866,000. Red Door Wealth Management LLC acquired a new position in shares of Everest Group in the 4th quarter valued at $237,000. Uncommon Cents Investing LLC purchased a new position in Everest Group in the 4th quarter worth about $1,016,000. Traynor Capital Management Inc. acquired a new stake in Everest Group during the 4th quarter worth about $466,000. Finally, Global Retirement Partners LLC purchased a new stake in Everest Group during the fourth quarter valued at about $102,000. 92.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Everest Group

In other news, CFO Mark Kociancic acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $349.00 per share, with a total value of $349,000.00. Following the acquisition, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Everest Group news, CFO Mark Kociancic bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the purchase, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mike Karmilowicz purchased 285 shares of the company’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the transaction, the chief executive officer now owns 10,586 shares in the company, valued at $3,730,400.54. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,485 shares of company stock worth $874,786 over the last 90 days. Insiders own 1.40% of the company’s stock.

Everest Group Price Performance

NYSE EG opened at $360.26 on Friday. The company has a 50 day moving average price of $375.63 and a two-hundred day moving average price of $380.20. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92. The stock has a market capitalization of $19.19 billion, a PE ratio of 6.03, a price-to-earnings-growth ratio of 3.15 and a beta of 0.56. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping the consensus estimate of $14.63 by $10.55. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $12.21 earnings per share. As a group, equities analysts predict that Everest Group, Ltd. will post 61.21 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a yield of 1.94%. Everest Group’s payout ratio is currently 11.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EG. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company reduced their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. TD Cowen started coverage on Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target on the stock. Morgan Stanley decreased their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $452.00 to $375.00 in a report on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Company 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.