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

Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, Holdings Channel reports. The institutional investor bought 4,318 shares of the company’s stock, valued at approximately $1,527,000.

Several other institutional investors have also recently added to or reduced their stakes in EG. Allworth Financial LP acquired a new position in Everest Group in the 4th quarter valued at about $25,000. Avior Wealth Management LLC acquired a new stake in shares of Everest Group in the fourth quarter worth approximately $25,000. Janiczek Wealth Management LLC purchased a new stake in Everest Group in the fourth quarter valued at approximately $27,000. Trifecta Capital Advisors LLC acquired a new position in Everest Group during the fourth quarter worth approximately $28,000. Finally, DT Investment Partners LLC purchased a new position in Everest Group during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $365.55 on Thursday. The stock’s 50 day moving average price is $376.20 and its 200 day moving average price is $379.91. The firm has a market capitalization of $19.47 billion, a PE 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 quick ratio of 0.37 and a current ratio of 0.37. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92.

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

Everest Group Dividend Announcement

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

Insider Buying and Selling

In related news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Everest Group news, Director Roger M. Singer acquired 500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the acquisition, the director now directly owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Kociancic acquired 1,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,485 shares of company stock valued at $874,786. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on EG shares. TD Cowen began 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 objective for the company. Morgan Stanley dropped their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Wells Fargo & Company reduced their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and an average price target of $432.11.

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.