Daiwa Securities Group Inc. Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

Daiwa Securities Group Inc. increased its stake in Everest Group, Ltd. (NYSE:EG) by 5.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,704 shares of the company’s stock after acquiring an additional 312 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Everest Group were worth $2,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in Everest Group by 152.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after acquiring an additional 13,687 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Everest Group by 19.5% during the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after buying an additional 12,791 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in shares of Everest Group during the third quarter worth $749,000. Intech Investment Management LLC grew its holdings in shares of Everest Group by 13.1% during the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after buying an additional 3,166 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Everest Group by 5.5% during the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after buying an additional 2,818 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 2.8 %

Shares of EG opened at $359.35 on Friday. 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, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. The firm has a 50-day moving average price of $351.67 and a 200 day moving average price of $368.79. The firm has a market capitalization of $15.43 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last posted 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 net margin of 7.95% and a return on equity of 9.04%. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be given a $2.00 dividend. The ex-dividend date is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.23%. Everest Group’s payout ratio is currently 25.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. TD Cowen dropped their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 target price (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Wells Fargo & Company dropped their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $416.50.

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.