Toronto Dominion Bank Grows Stock Position in Everest Group, Ltd. (NYSE:EG)

Toronto Dominion Bank lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 6.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,015 shares of the company’s stock after buying an additional 1,430 shares during the quarter. Toronto Dominion Bank’s holdings in Everest Group were worth $8,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Sunbelt Securities Inc. purchased a new position in Everest Group in the fourth quarter worth $29,000. SBI Securities Co. Ltd. purchased a new position in Everest Group in the fourth quarter worth $31,000. Optiver Holding B.V. purchased a new position in Everest Group in the fourth quarter worth $51,000. Wilmington Savings Fund Society FSB raised its position in Everest Group by 19.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock worth $71,000 after acquiring an additional 32 shares in the last quarter. Finally, Private Trust Co. NA raised its position in Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 3.0%

Shares of EG stock opened at $345.73 on Friday. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The stock has a market cap of $14.71 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.24 and a beta of 0.58. The business has a fifty day simple moving average of $348.62 and a 200-day simple moving average of $355.67. 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 quarterly earnings data on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $16.32 EPS. On average, analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, May 28th. Everest Group’s payout ratio is currently 41.15%.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the 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 sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

EG has been the subject of several research analyst reports. UBS Group cut their price objective on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company cut their price objective on Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Morgan Stanley increased their price objective on Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Finally, Raymond James restated a “strong-buy” rating and issued a $410.00 price target (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Everest Group has a consensus rating of “Moderate Buy” and a consensus price target of $398.09.

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.