Resona Asset Management Co. Ltd. Invests $4.57 Million in Everest Group, Ltd. (NYSE:EG)

Resona Asset Management Co. Ltd. purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, Holdings Channel.com reports. The firm purchased 12,621 shares of the company’s stock, valued at approximately $4,570,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prudential PLC raised its holdings in Everest Group by 249.0% in the 4th quarter. Prudential PLC now owns 8,979 shares of the company’s stock valued at $3,255,000 after acquiring an additional 6,406 shares during the last quarter. PAX Financial Group LLC grew its position in shares of Everest Group by 2.4% in the fourth quarter. PAX Financial Group LLC now owns 2,393 shares of the company’s stock valued at $867,000 after purchasing an additional 55 shares in the last quarter. Donald Smith & CO. Inc. acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $56,341,000. ExodusPoint Capital Management LP lifted its position in Everest Group by 1,157.5% during the fourth quarter. ExodusPoint Capital Management LP now owns 10,676 shares of the company’s stock worth $3,870,000 after buying an additional 9,827 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new position in Everest Group during the fourth quarter worth $320,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 1.4 %

Shares of NYSE EG opened at $330.89 on Wednesday. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The business’s 50 day moving average is $348.81 and its two-hundred day moving average is $364.37. The firm has a market cap of $15.81 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.24 and a beta of 0.43. 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 (NYSE:EG) last posted 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%. Research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Analyst Upgrades and Downgrades

EG has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Barclays increased their price target 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 reaffirmed an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $416.50.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now directly 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 document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

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.