Everest Group, Ltd. (NYSE:EG) Stock Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 45.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,776 shares of the company’s stock after acquiring an additional 869 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Everest Group were worth $1,097,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EG. Boston Partners lifted its holdings in shares of Everest Group by 29.1% in the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after purchasing an additional 269,665 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after acquiring an additional 134,517 shares in the last quarter. Arnhold LLC purchased a new stake in shares of Everest Group during the first quarter worth $19,896,000. Champlain Investment Partners LLC raised its holdings in shares of Everest Group by 5.3% during the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after acquiring an additional 45,705 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after acquiring an additional 38,254 shares in the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Stock Down 1.3 %

EG stock opened at $350.97 on Friday. The company has a market cap of $15.11 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 2.67 and a beta of 0.61. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92. The business’s 50-day simple moving average is $386.85 and its 200 day simple moving average is $380.64.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. Everest Group had a return on equity of 23.13% and a net margin of 16.99%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $15.21 EPS. On average, research analysts anticipate that Everest Group, Ltd. will post 60.97 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group’s dividend payout ratio is 12.52%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EG. Jefferies Financial Group raised their target price on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America cut their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. BMO Capital Markets restated a “market perform” rating and set a $403.00 target price on shares of Everest Group in a report on Friday, August 30th. TD Cowen lowered their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company raised their price target on Everest Group from $393.00 to $406.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.36.

Everest Group Company 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.