Mizuho Securities USA LLC Buys 412,040 Shares of Everest Group, Ltd. (NYSE:EG)

Mizuho Securities USA LLC grew its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 12,263.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 415,400 shares of the company's stock after acquiring an additional 412,040 shares during the quarter. Everest Group accounts for about 0.4% of Mizuho Securities USA LLC's investment portfolio, making the stock its 27th largest holding. Mizuho Securities USA LLC owned about 0.96% of Everest Group worth $162,766,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. American National Bank bought a new position in Everest Group during the 2nd quarter worth about $27,000. M&R Capital Management Inc. bought a new position in shares of Everest Group during the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC increased its stake in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock valued at $31,000 after buying an additional 52 shares during the last quarter. Eastern Bank bought a new stake in Everest Group during the third quarter worth about $35,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company's stock valued at $44,000 after acquiring an additional 31 shares during 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 up $4.83 during trading on Friday, reaching $371.33. 355,523 shares of the company traded hands, compared to its average volume of 349,102. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. The firm has a market capitalization of $15.96 billion, a PE ratio of 5.81, a PEG ratio of 2.66 and a beta of 0.63. The company's 50 day moving average is $380.99 and its two-hundred day moving average is $380.52.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.15%. Everest Group's payout ratio is 12.52%.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. bought 2,870 shares of Everest Group stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the acquisition, the director now owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the sale, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price target on Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. UBS Group upgraded shares of Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Barclays cut their price objective on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price on Everest Group from $406.00 to $402.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group boosted their price target on Everest Group from $440.00 to $457.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $435.18.

Everest Group 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.