MMA Asset Management LLC Buys New Shares in Everest Group, Ltd. (NYSE:EG)

MMA Asset Management LLC bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 768 shares of the company’s stock, valued at approximately $278,000.

A number of other hedge funds also recently made changes to their positions in EG. Private Advisor Group LLC acquired a new position in shares of Everest Group in the 3rd quarter valued at $333,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Everest Group by 45.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,776 shares of the company’s stock valued at $1,097,000 after buying an additional 869 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Everest Group by 82.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,163 shares of the company’s stock valued at $1,631,000 after buying an additional 1,877 shares in the last quarter. US Bancorp DE raised its stake in shares of Everest Group by 1.0% in the 3rd quarter. US Bancorp DE now owns 7,953 shares of the company’s stock valued at $3,116,000 after buying an additional 80 shares in the last quarter. Finally, National Pension Service raised its stake in shares of Everest Group by 24.1% in the 3rd quarter. National Pension Service now owns 103,315 shares of the company’s stock valued at $40,482,000 after buying an additional 20,040 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the subject of a number of recent analyst reports. TD Cowen dropped their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays increased their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $416.50.

Everest Group Stock Up 1.7 %

Shares of NYSE:EG opened at $353.45 on Friday. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30. The company’s 50-day moving average price is $352.59 and its two-hundred day moving average price is $370.07. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm has a market cap of $15.19 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.24 and a beta of 0.65.

Everest Group (NYSE:EG) last issued its quarterly earnings data 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 return on equity of 9.04% and a net margin of 7.95%. As a group, research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

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.