Korea Investment CORP Increases Stake in Everest Group, Ltd. (NYSE:EG)

Korea Investment CORP increased its holdings in Everest Group, Ltd. (NYSE:EG) by 121.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,948 shares of the company’s stock after acquiring an additional 14,800 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Everest Group worth $9,768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors LLC purchased a new position in shares of Everest Group in the 3rd quarter valued at $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Everest Group by 442.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock valued at $120,744,000 after purchasing an additional 251,337 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Everest Group in the fourth quarter valued at about $48,290,000. Truist Financial Corp raised its holdings in Everest Group by 7,580.7% in the fourth quarter. Truist Financial Corp now owns 92,936 shares of the company’s stock worth $33,686,000 after purchasing an additional 91,726 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Everest Group by 21.5% during the third quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after buying an additional 72,822 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EG. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Wells Fargo & Company lowered their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Barclays raised their price target on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average price target of $416.50.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction dated 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 directly 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 this hyperlink. 1.20% of the stock is currently owned by insiders.

Everest Group Stock Up 0.5 %

Everest Group stock opened at $363.91 on Tuesday. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The company has a market cap of $15.62 billion, a PE ratio of 11.59, a PEG ratio of 0.24 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50-day simple moving average is $351.46 and its two-hundred day simple moving average is $366.27.

Everest Group (NYSE:EG) last issued its earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Equities analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

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

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.