Korea Investment CORP Grows Holdings in Everest Group, Ltd. (NYSE:EG)

Korea Investment CORP lifted its position in shares of Everest Group, Ltd. (NYSE:EG) by 121.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,948 shares of the company’s stock after acquiring an additional 14,800 shares during the quarter. Korea Investment CORP’s holdings in Everest Group were worth $9,768,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EG. Janney Montgomery Scott LLC grew its stake in Everest Group by 152.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock valued at $8,225,000 after acquiring an additional 13,687 shares during the period. JPMorgan Chase & Co. lifted its holdings in Everest Group by 19.5% during the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after purchasing an additional 12,791 shares in the last quarter. Brophy Wealth Management LLC acquired a new stake in shares of Everest Group in the third quarter valued at about $749,000. Principal Financial Group Inc. increased its stake in shares of Everest Group by 5.5% during the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after purchasing an additional 2,818 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Everest Group by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 4,347 shares of the company’s stock worth $1,704,000 after purchasing an additional 162 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

Shares of EG stock opened at $363.91 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $15.62 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The firm’s 50-day moving average is $351.46 and its two-hundred day moving average is $366.27. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30.

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

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Wells Fargo & Company decreased their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Barclays boosted their price target on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $416.50.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

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.