Donald Smith & CO. Inc. Takes Position in Everest Group, Ltd. (NYSE:EG)

Donald Smith & CO. Inc. bought a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 155,440 shares of the company's stock, valued at approximately $56,341,000. Everest Group accounts for about 1.3% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 29th biggest position. Donald Smith & CO. Inc. owned 0.36% of Everest Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EG. Norges Bank acquired a new position in shares of Everest Group in the 4th quarter valued at approximately $488,588,000. World Investment Advisors LLC bought a new position in Everest Group in the third quarter valued at approximately $120,564,000. Raymond James Financial Inc. bought a new position in Everest Group in the fourth quarter valued at approximately $48,290,000. Truist Financial Corp raised its position in Everest Group by 7,580.7% during the fourth quarter. Truist Financial Corp now owns 92,936 shares of the company's stock valued at $33,686,000 after purchasing an additional 91,726 shares in the last quarter. Finally, FMR LLC lifted its stake in Everest Group by 21.5% during the third quarter. FMR LLC now owns 410,861 shares of the company's stock worth $160,988,000 after purchasing an additional 72,822 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of research firms have issued reports on EG. Keefe, Bruyette & Woods lifted their target price on Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Morgan Stanley reaffirmed an "equal weight" rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Barclays increased their price objective on shares of Everest Group from $461.00 to $470.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their target price on shares of Everest Group from $390.00 to $380.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Finally, BMO Capital Markets cut Everest Group from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $416.50.

Everest Group Trading Up 4.0 %

NYSE:EG traded up $12.98 during trading hours on Tuesday, hitting $339.42. 111,900 shares of the company were exchanged, compared to its average volume of 431,249. The company has a fifty day simple moving average of $349.98 and a 200 day simple moving average of $365.00. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts' consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Sell-side analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group's dividend payout ratio is presently 25.47%.

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.