Mizuho Securities USA LLC Boosts Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Mizuho Securities USA LLC lifted its holdings in Everest Group, Ltd. (NYSE:EG) by 45.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,073 shares of the company’s stock after purchasing an additional 1,267 shares during the period. Mizuho Securities USA LLC’s holdings in Everest Group were worth $1,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EG. PNC Financial Services Group Inc. boosted its position in Everest Group by 7.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock valued at $2,074,000 after purchasing an additional 346 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Everest Group by 59.7% during the third quarter. Raymond James Trust N.A. now owns 1,434 shares of the company’s stock valued at $562,000 after buying an additional 536 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Everest Group by 5.9% in the 3rd quarter. Citigroup Inc. now owns 51,962 shares of the company’s stock valued at $20,360,000 after buying an additional 2,877 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Everest Group in the 3rd quarter worth approximately $2,076,000. Finally, Centaurus Financial Inc. bought a new position in shares of Everest Group during the 3rd quarter worth approximately $220,000. 92.64% of the stock is currently owned by institutional investors.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

Everest Group Price Performance

Shares of NYSE EG opened at $362.05 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 52 week low of $327.37 and a 52 week high of $407.30. The business’s 50 day moving average price is $351.13 and its 200 day moving average price is $366.73. The firm has a market cap of $15.54 billion, a P/E ratio of 11.53, a P/E/G ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last issued its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, sell-side analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is 25.47%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EG. Barclays raised their target price on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley restated an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods increased their price target on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $416.50.

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.