Everest Group, Ltd. $EG Shares Bought by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. grew its stake in Everest Group, Ltd. (NYSE:EG) by 23.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 943 shares of the company’s stock after purchasing an additional 182 shares during the period. Mufg Securities Americas Inc.’s holdings in Everest Group were worth $320,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Everest Group in the 1st quarter valued at $137,418,000. Vulcan Value Partners LLC grew its position in Everest Group by 35.8% during the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock valued at $482,832,000 after buying an additional 350,019 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Everest Group in the second quarter valued at $28,785,000. Amundi raised its position in shares of Everest Group by 72.6% in the first quarter. Amundi now owns 180,484 shares of the company’s stock worth $65,292,000 after acquiring an additional 75,920 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Everest Group by 183.4% in the first quarter. Russell Investments Group Ltd. now owns 112,345 shares of the company’s stock worth $40,716,000 after acquiring an additional 72,709 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EG has been the subject of several recent analyst reports. Cowen restated a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Evercore ISI boosted their price objective on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Wolfe Research raised Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Wells Fargo & Company decreased their target price on Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Everest Group has a consensus rating of “Hold” and a consensus target price of $368.77.

Insiders Place Their Bets

In other Everest Group news, Director William F. Galtney, Jr. bought 11,385 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The stock was acquired at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the transaction, the director directly owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This represents a 33.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allan Levine purchased 3,100 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was acquired at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the completion of the purchase, the director owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This represents a 294.40% increase in their position. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by corporate insiders.

Everest Group Price Performance

Shares of Everest Group stock opened at $310.39 on Tuesday. The stock has a market capitalization of $13.03 billion, a P/E ratio of 23.64, a PEG ratio of 0.25 and a beta of 0.47. The business has a 50 day simple moving average of $335.53 and a two-hundred day simple moving average of $337.67. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $392.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same period in the prior year, the firm earned $11.80 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s payout ratio is 60.93%.

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.