Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Everest Group, Ltd. (NYSE:EG)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,671 shares of the company’s stock after buying an additional 658 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Everest Group were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of Everest Group by 18.1% during the 1st quarter. Fifth Third Bancorp now owns 1,151 shares of the company’s stock valued at $418,000 after buying an additional 176 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of Everest Group by 14.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company’s stock valued at $3,586,000 after buying an additional 1,235 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of Everest Group during the 1st quarter valued at about $231,000. SG Americas Securities LLC raised its holdings in shares of Everest Group by 127.3% during the 1st quarter. SG Americas Securities LLC now owns 5,842 shares of the company’s stock valued at $2,123,000 after buying an additional 3,272 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Everest Group by 39.9% during the 4th quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company’s stock valued at $39,789,000 after buying an additional 31,306 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Everest Group

In related news, CEO James Allan Williamson acquired 1,000 shares of Everest Group stock in a transaction that occurred on Wednesday, June 11th. The stock was acquired at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the transaction, the chief executive officer directly owned 25,618 shares of the company’s stock, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on EG. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and raised their target price for the company from $376.00 to $415.00 in a report on Friday, April 11th. Barclays lowered their price objective on Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. UBS Group lowered their price objective on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley raised their price objective on Everest Group from $330.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company lowered their price objective on Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Everest Group currently has an average rating of “Moderate Buy” and an average target price of $400.33.

Everest Group Price Performance

Shares of EG opened at $337.48 on Friday. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 0.26 and a beta of 0.51. The stock has a 50 day moving average of $342.70 and a 200-day moving average of $349.53. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. Everest Group’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $16.32 EPS. As a group, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.37%. Everest Group’s payout ratio is 41.15%.

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.