Mirabella Financial Services LLP Increases Stock Holdings in Everest Group, Ltd. $EG

Mirabella Financial Services LLP grew its stake in Everest Group, Ltd. (NYSE:EG) by 378.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 77,613 shares of the company’s stock after buying an additional 61,383 shares during the period. Everest Group accounts for about 2.7% of Mirabella Financial Services LLP’s holdings, making the stock its 3rd largest position. Mirabella Financial Services LLP’s holdings in Everest Group were worth $26,377,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EG. Norges Bank acquired a new stake in Everest Group during the second quarter worth about $601,300,000. Nuveen LLC bought a new stake in shares of Everest Group in the 1st quarter worth approximately $137,418,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Everest Group in the 2nd quarter worth approximately $28,785,000. Amundi grew its holdings in shares of Everest Group by 72.6% during the 1st quarter. Amundi now owns 180,484 shares of the company’s stock worth $65,292,000 after purchasing an additional 75,920 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Everest Group by 183.4% during the 1st quarter. Russell Investments Group Ltd. now owns 112,345 shares of the company’s stock worth $40,716,000 after purchasing an additional 72,709 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. bought 11,385 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were bought at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the acquisition, the director owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This trade represents a 33.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Allan Levine purchased 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was acquired at an average cost of $306.08 per share, with a total value of $948,848.00. Following the completion of the acquisition, the director directly owned 4,153 shares of the company’s stock, valued at $1,271,150.24. The trade was a 294.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.10% of the company’s stock.

Everest Group Trading Down 0.1%

Shares of Everest Group stock opened at $313.67 on Friday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $380.26. The stock has a market capitalization of $13.17 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 0.28 and a beta of 0.39. The company has a 50-day simple moving average of $331.60 and a 200 day simple moving average of $335.95. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing the consensus estimate of $13.39 by ($5.85). The firm had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $3.86 billion. Everest Group had a return on equity of 3.74% and a net margin of 3.12%.Everest Group’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $11.80 earnings per share. Research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s dividend payout ratio (DPR) is currently 60.93%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Cowen restated a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Wolfe Research raised shares of Everest Group from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 29th. Wall Street Zen cut shares of Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Citigroup started coverage on shares of Everest Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Everest Group currently has an average rating of “Hold” and an average target price of $368.77.

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.