Resona Asset Management Co. Ltd. Makes New $4.57 Million Investment in Everest Group, Ltd. (NYSE:EG)

Resona Asset Management Co. Ltd. bought a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,621 shares of the company's stock, valued at approximately $4,570,000.

A number of other hedge funds have also recently bought and sold shares of EG. Vanguard Group Inc. lifted its position in shares of Everest Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after buying an additional 43,793 shares during the last quarter. Norges Bank bought a new stake in shares of Everest Group during the 4th quarter worth about $488,588,000. Franklin Resources Inc. grew its stake in Everest Group by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after buying an additional 4,544 shares during the last quarter. Geode Capital Management LLC lifted its position in Everest Group by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock worth $424,344,000 after acquiring an additional 8,321 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Everest Group by 10.5% in the fourth quarter. William Blair Investment Management LLC now owns 642,813 shares of the company's stock valued at $232,994,000 after purchasing an additional 61,026 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group decreased their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company cut their price objective on shares of Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a report on Thursday. Morgan Stanley reiterated an "equal weight" rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Barclays reduced their price objective on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods decreased their price target on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $396.00.

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Everest Group Stock Up 1.6 %

NYSE EG traded up $5.52 on Monday, reaching $355.06. The company had a trading volume of 29,625 shares, compared to its average volume of 369,774. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $16.97 billion, a P/E ratio of 11.30, a P/E/G ratio of 0.24 and a beta of 0.43. The company's fifty day moving average is $348.82 and its 200 day moving average is $363.30. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate 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 anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, March 17th. Everest Group's dividend payout ratio (DPR) is currently 25.47%.

Insiders Place Their Bets

In other news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% 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.