Asset Management One Co. Ltd. Grows Position in Everest Group, Ltd. (NYSE:EG)

Asset Management One Co. Ltd. increased its position in shares of Everest Group, Ltd. (NYSE:EG) by 2.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,387 shares of the company’s stock after buying an additional 506 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Everest Group were worth $6,681,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in shares of Everest Group in the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Everest Group in the 4th quarter valued at approximately $31,000. Optiver Holding B.V. purchased a new position in shares of Everest Group in the 4th quarter valued at approximately $51,000. Bruce G. Allen Investments LLC grew its stake in shares of Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock valued at $56,000 after purchasing an additional 68 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EG. UBS Group reduced their price target on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and raised their price target for the company from $376.00 to $415.00 in a report on Friday, April 11th. Keefe, Bruyette & Woods reduced their price target on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Janney Montgomery Scott began coverage on Everest Group in a report on Friday, June 20th. They issued a “buy” rating and a $425.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $400.33.

Everest Group Stock Performance

Shares of EG stock opened at $336.89 on Friday. The stock has a fifty day moving average price of $343.90 and a 200 day moving average price of $350.08. The stock has a market cap of $14.33 billion, a PE ratio of 17.33, a P/E/G ratio of 0.26 and a beta of 0.53. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the firm earned $16.32 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a $2.00 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.37%. Everest Group’s dividend payout ratio (DPR) is 41.15%.

Insider Transactions at Everest Group

In other Everest Group news, CEO James Allan Williamson acquired 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer now directly owns 25,618 shares in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

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.