Everest Group, Ltd. (NYSE:EG) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,753 shares of the company's stock after purchasing an additional 2,793 shares during the period. Mackenzie Financial Corp owned about 0.23% of Everest Group worth $36,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after acquiring an additional 43,793 shares during the last quarter. Norges Bank acquired a new position in Everest Group during the 4th quarter worth about $488,588,000. Franklin Resources Inc. lifted its holdings in Everest Group by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock worth $464,533,000 after buying an additional 4,544 shares during the period. Geode Capital Management LLC grew its position in shares of Everest Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after buying an additional 8,321 shares during the last quarter. Finally, Vulcan Value Partners LLC increased its stake in shares of Everest Group by 279.1% in the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after buying an additional 720,572 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of EG traded down $8.31 during midday trading on Wednesday, reaching $335.45. The stock had a trading volume of 423,905 shares, compared to its average volume of 385,352. The company's 50-day moving average is $349.25 and its 200 day moving average is $355.97. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period last year, the business posted $16.32 earnings per share. The company's revenue was up 3.1% compared to the same quarter last year. On average, equities analysts predict 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, June 13th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.38%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Analyst Upgrades and Downgrades

EG has been the subject of several research analyst reports. Raymond James reissued a "strong-buy" rating and issued a $410.00 price objective (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Morgan Stanley boosted their target price on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. UBS Group dropped their price target on Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Evercore ISI decreased their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Finally, Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and upped their price target for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $398.09.

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company's stock, valued at approximately $4,428,175.77. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

About Everest Group

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.