Daiwa Securities Group Inc. Acquires New Holdings in Everest Group, Ltd. (NYSE:EG)

Daiwa Securities Group Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,961 shares of the company’s stock, valued at approximately $1,400,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EG. Allworth Financial LP bought a new position in Everest Group in the 4th quarter valued at approximately $25,000. Avior Wealth Management LLC bought a new position in Everest Group in the 4th quarter valued at approximately $25,000. Janiczek Wealth Management LLC bought a new position in shares of Everest Group during the fourth quarter valued at $27,000. Trifecta Capital Advisors LLC bought a new position in shares of Everest Group during the fourth quarter valued at $28,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Everest Group during the fourth quarter valued at $46,000. Institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In other news, CEO Mike Karmilowicz bought 285 shares of the stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the transaction, the chief executive officer now directly owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Everest Group news, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mike Karmilowicz purchased 285 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $352.39 per share, with a total value of $100,431.15. Following the purchase, the chief executive officer now directly owns 10,586 shares in the company, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 2,485 shares of company stock valued at $874,786. Company insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

NYSE:EG opened at $368.43 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The company has a fifty day moving average of $376.19 and a 200-day moving average of $380.08. The firm has a market capitalization of $19.62 billion, a P/E ratio of 6.17, a P/E/G ratio of 3.29 and a beta of 0.56.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, beating the consensus estimate of $14.63 by $10.55. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $12.21 earnings per share. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 61.21 EPS 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 paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is currently 11.72%.

Analyst Upgrades and Downgrades

EG has been the subject of several analyst reports. TD Cowen initiated coverage on shares of Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target for the company. Morgan Stanley dropped their price target 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. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company dropped their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Finally, Citigroup downgraded shares of Everest Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $452.00 to $375.00 in a research note on Monday, February 12th. 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $432.11.

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.