Sumitomo Mitsui DS Asset Management Company Ltd Takes Position in Everest Group, Ltd. (NYSE:EG)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,318 shares of the company’s stock, valued at approximately $1,527,000.

Several other large investors have also recently modified their holdings of EG. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Everest Group during the 4th quarter worth approximately $39,992,000. Zweig DiMenna Associates LLC purchased a new stake in Everest Group during the 4th quarter worth approximately $35,503,000. Allspring Global Investments Holdings LLC purchased a new stake in Everest Group during the 4th quarter worth approximately $31,810,000. Strs Ohio purchased a new stake in Everest Group during the 4th quarter worth approximately $23,980,000. Finally, New York State Teachers Retirement System purchased a new stake in Everest Group during the 4th quarter worth approximately $19,854,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 0.8 %

EG stock opened at $365.55 on Thursday. The firm’s fifty day simple moving average is $376.20 and its 200-day simple moving average is $379.91. The company has a market capitalization of $19.47 billion, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 3.26 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the firm posted $12.21 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts forecast that Everest Group, Ltd. will post 61.21 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EG. Wells Fargo & Company dropped their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. TD Cowen began coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Morgan Stanley dropped their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Citigroup downgraded shares of Everest Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Insider Buying and Selling

In other news, COO James Allan Williamson purchased 700 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, with a total value of $246,750.00. Following the completion of the acquisition, the chief operating officer now owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO James Allan Williamson acquired 700 shares of Everest Group stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the transaction, the chief operating officer now owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction on Monday, February 12th. The shares were bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the transaction, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,485 shares of company stock valued at $874,786. 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.