Daiwa Securities Group Inc. Increases Stake in Everest Group, Ltd. (NYSE:EG)

Daiwa Securities Group Inc. grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,392 shares of the company’s stock after buying an additional 648 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Everest Group were worth $2,113,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. American National Bank purchased a new position in shares of Everest Group in the 2nd quarter valued at about $27,000. M&R Capital Management Inc. purchased a new position in shares of Everest Group in the 3rd quarter valued at about $29,000. Bruce G. Allen Investments LLC increased its holdings in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares in the last quarter. Eastern Bank purchased a new position in shares of Everest Group in the 3rd quarter valued at about $35,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Everest Group stock opened at $389.00 on Friday. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $417.04. The stock has a market capitalization of $16.72 billion, a P/E ratio of 6.09, a P/E/G ratio of 2.89 and a beta of 0.63. The firm’s 50-day moving average is $380.79 and its two-hundred day moving average is $380.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. Everest Group’s dividend payout ratio is currently 12.52%.

Insiders Place Their Bets

In related news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This trade represents a 1.32 % 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. Also, Director William F. Galtney, Jr. bought 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EG. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. TD Cowen lowered their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. BMO Capital Markets lowered their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Keefe, Bruyette & Woods lowered their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Bank of America lowered their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group has a consensus rating of “Hold” and a consensus price target of $431.30.

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.