Daiwa Securities Group Inc. Takes Position in Everest Group, Ltd. (NYSE:EG)

Daiwa Securities Group Inc. bought a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,961 shares of the company’s stock, valued at approximately $1,400,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Everest Group during the fourth quarter valued at $39,992,000. Zweig DiMenna Associates LLC bought a new stake in shares of Everest Group in the 4th quarter worth $35,503,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Everest Group in the 4th quarter worth $31,810,000. Strs Ohio bought a new stake in shares of Everest Group in the 4th quarter worth $23,980,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Everest Group in the 4th quarter worth $19,854,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In related news, Director Roger M. Singer purchased 500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the acquisition, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of the stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the transaction, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at $8,980,817. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roger M. Singer acquired 500 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the transaction, the director now directly owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 2,485 shares of company stock valued at $874,786. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

EG has been the subject of a number of research analyst reports. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Keefe, Bruyette & Woods lifted their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. TD Cowen initiated coverage on Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price for the company. 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. Finally, Morgan Stanley cut their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Three 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.11.

Everest Group Stock Performance

NYSE:EG opened at $368.43 on Wednesday. The stock has a 50-day simple moving average of $376.19 and a two-hundred day simple moving average of $380.08. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $19.62 billion, a PE ratio of 6.17, a P/E/G ratio of 3.29 and a beta of 0.56.

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

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

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.