Nomura Holdings Inc. Buys Shares of 17,566 Everest Group, Ltd. (NYSE:EG)

Nomura Holdings Inc. bought a new position in Everest Group, Ltd. (NYSE:EGFree Report) in the fourth quarter, HoldingsChannel.com reports. The firm bought 17,566 shares of the company’s stock, valued at approximately $6,211,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in shares of Everest Group in the fourth quarter valued at about $2,570,000. PNC Financial Services Group Inc. acquired a new stake in Everest Group in the 4th quarter valued at approximately $1,438,000. Grayhawk Investment Strategies Inc. bought a new stake in Everest Group in the 4th quarter valued at approximately $775,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Everest Group during the 4th quarter worth approximately $9,498,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Everest Group during the 4th quarter worth approximately $721,000. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

EG has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their price target on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley decreased their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $432.11.

Read Our Latest Stock Analysis on Everest Group

Everest Group Stock Performance

NYSE:EG traded down $2.64 during mid-day trading on Tuesday, hitting $373.75. 14,812 shares of the stock were exchanged, compared to its average volume of 329,076. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 5.59, a price-to-earnings-growth ratio of 3.22 and a beta of 0.62. The firm’s 50-day simple moving average is $377.06 and its 200 day simple moving average is $375.67. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92.

Everest Group (NYSE:EGGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping the consensus estimate of $15.98 by $0.34. The business had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $11.31 EPS. As a group, equities analysts anticipate that Everest Group, Ltd. will post 61.65 EPS for the current fiscal year.

Everest Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were paid a $2.00 dividend. The ex-dividend date was Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.14%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

About Everest Group

(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.

Further Reading

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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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