Mutual of America Capital Management LLC Decreases Stake in Everest Group, Ltd. (NYSE:EG)

Mutual of America Capital Management LLC lowered its stake in Everest Group, Ltd. (NYSE:EG) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,991 shares of the company’s stock after selling 150 shares during the period. Mutual of America Capital Management LLC’s holdings in Everest Group were worth $1,813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EG. HighTower Advisors LLC raised its holdings in shares of Everest Group by 68.7% in the fourth quarter. HighTower Advisors LLC now owns 3,963 shares of the company’s stock worth $1,436,000 after buying an additional 1,614 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Everest Group by 25.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company’s stock worth $4,369,000 after buying an additional 2,438 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Everest Group by 0.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 38,357 shares of the company’s stock worth $13,903,000 after buying an additional 184 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Everest Group in the fourth quarter worth $1,011,000. Finally, Mizuho Securities USA LLC raised its holdings in shares of Everest Group by 45.2% in the fourth quarter. Mizuho Securities USA LLC now owns 4,073 shares of the company’s stock worth $1,476,000 after buying an additional 1,267 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 0.4%

EG stock opened at $332.65 on Monday. The firm has a market cap of $14.15 billion, a PE ratio of 17.11, a P/E/G ratio of 0.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. The firm’s fifty day moving average is $339.89 and its 200 day moving average is $347.69. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30.

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

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a yield of 2.40%. Everest Group’s dividend payout ratio is presently 41.15%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group decreased their price target on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Morgan Stanley increased their price objective on shares of Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Jefferies Financial Group upgraded shares of Everest Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Janney Montgomery Scott initiated coverage on shares of Everest Group in a research note on Friday, June 20th. They issued a “buy” rating and a $425.00 price objective on the stock. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and an average price target of $400.83.

Insider Buying and Selling

In related news, CEO James Allan Williamson bought 1,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer directly owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

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.