MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Holdings in Everest Group, Ltd. $EG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Everest Group, Ltd. by 137.5%, owning 11,322 shares valued at approximately $4.11 million as of the end of the first quarter.
• Everest Group's recent earnings report revealed an EPS of $17.36, exceeding analyst expectations, with revenues of $4.49 billion for the quarter, marking a 6.2% year-over-year increase.
• The company announced a quarterly dividend of $2.00 per share, with an annualized yield of 2.3%, set to be paid to investors of record on September 3rd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 137.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,322 shares of the company's stock after acquiring an additional 6,554 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Everest Group were worth $4,114,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in shares of Everest Group by 11.3% in the fourth quarter. Captrust Financial Advisors now owns 2,588 shares of the company's stock valued at $938,000 after purchasing an additional 262 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in Everest Group during the fourth quarter valued at approximately $5,093,000. Graham Capital Management L.P. grew its stake in Everest Group by 146.9% during the fourth quarter. Graham Capital Management L.P. now owns 2,022 shares of the company's stock valued at $733,000 after acquiring an additional 1,203 shares in the last quarter. Gotham Asset Management LLC grew its stake in Everest Group by 13.3% during the fourth quarter. Gotham Asset Management LLC now owns 2,617 shares of the company's stock valued at $949,000 after acquiring an additional 307 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Everest Group during the fourth quarter valued at approximately $515,000. Institutional investors own 92.64% of the company's stock.

Everest Group Trading Up 0.3%

NYSE:EG traded up $0.98 during midday trading on Friday, reaching $349.42. 487,609 shares of the stock traded hands, compared to its average volume of 278,528. The company has a fifty day moving average of $337.11 and a 200 day moving average of $344.01. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $14.66 billion, a P/E ratio of 18.55, a PEG ratio of 0.26 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the business posted $16.85 EPS. The firm's revenue was up 6.2% compared to the same quarter last year. On average, research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be issued a $2.00 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group's dividend payout ratio is 42.46%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EG. Barclays boosted their price target on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Morgan Stanley boosted their price target on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Cantor Fitzgerald raised shares of Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Finally, Citigroup began coverage on shares of Everest Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Everest Group has an average rating of "Moderate Buy" and a consensus target price of $397.14.

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.