Nomura Asset Management Co. Ltd. Raises Position in Everest Group, Ltd. (NYSE:EG)

Nomura Asset Management Co. Ltd. lifted its stake in Everest Group, Ltd. (NYSE:EG) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,888 shares of the company’s stock after purchasing an additional 99 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Everest Group were worth $4,671,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in Everest Group in the fourth quarter worth about $488,588,000. World Investment Advisors LLC purchased a new stake in shares of Everest Group in the third quarter worth approximately $120,564,000. Raymond James Financial Inc. bought a new stake in shares of Everest Group during the 4th quarter worth approximately $48,290,000. Truist Financial Corp boosted its holdings in Everest Group by 7,580.7% during the 4th quarter. Truist Financial Corp now owns 92,936 shares of the company’s stock valued at $33,686,000 after acquiring an additional 91,726 shares during the period. Finally, FMR LLC grew its position in Everest Group by 21.5% in the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after acquiring an additional 72,822 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

EG has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered 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 research note on Tuesday, January 14th. Barclays upped their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods upped their target price on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $416.50.

Everest Group Trading Up 0.5 %

Shares of NYSE:EG opened at $365.12 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $15.68 billion, a PE ratio of 11.62, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. The business’s fifty day simple moving average is $351.47 and its 200-day simple moving average is $366.15.

Everest Group (NYSE:EG) last posted its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, equities research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.19%. Everest Group’s dividend payout ratio (DPR) is 25.47%.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

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.