Mesirow Institutional Investment Management Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,179 shares of the company's stock, valued at approximately $2,965,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Everest Group in the fourth quarter valued at $488,588,000. Sterling Capital Management LLC raised its stake in shares of Everest Group by 11,756.0% in the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock valued at $100,987,000 after buying an additional 276,266 shares in the last quarter. Donald Smith & CO. Inc. acquired a new stake in shares of Everest Group during the 4th quarter valued at about $56,341,000. Raymond James Financial Inc. bought a new stake in Everest Group in the fourth quarter valued at about $48,290,000. Finally, Invesco Ltd. raised its position in Everest Group by 17.2% in the fourth quarter. Invesco Ltd. now owns 855,120 shares of the company's stock worth $309,947,000 after purchasing an additional 125,271 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.
Everest Group Price Performance
Shares of NYSE EG traded down $0.95 during trading on Thursday, reaching $355.25. The company had a trading volume of 357,496 shares, compared to its average volume of 371,386. The business's 50 day moving average price is $351.75 and its 200-day moving average price is $361.12. The stock has a market cap of $16.98 billion, a PE ratio of 11.31, a PEG ratio of 0.24 and a beta of 0.43. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40.
Everest Group (NYSE:EG - Get Free Report) last released its earnings results 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%. Analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.
Everest Group Announces Dividend
The firm also recently disclosed 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 annualized dividend and a yield of 2.25%. The ex-dividend date was Monday, March 17th. Everest Group's payout ratio is presently 25.47%.
Insider Transactions at Everest Group
In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
EG has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on Everest Group from $370.00 to $362.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. BMO Capital Markets cut Everest Group from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley reissued 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. Finally, Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $396.00.
Check Out Our Latest Stock Report on EG
About Everest Group
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Free Report)
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.
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