MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 6,554 Shares of 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. increased its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 137.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EG. Captrust Financial Advisors grew its position in Everest Group by 11.3% during the 4th quarter. Captrust Financial Advisors now owns 2,588 shares of the company's stock worth $938,000 after acquiring an additional 262 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Everest Group in the 4th quarter valued at about $5,093,000. Graham Capital Management L.P. grew its position in shares of Everest Group by 146.9% in the 4th quarter. Graham Capital Management L.P. now owns 2,022 shares of the company's stock valued at $733,000 after buying an additional 1,203 shares during the last quarter. Gotham Asset Management LLC grew its position in shares of Everest Group by 13.3% in the 4th quarter. Gotham Asset Management LLC now owns 2,617 shares of the company's stock valued at $949,000 after buying an additional 307 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Everest Group in the 4th quarter valued at about $515,000. Institutional investors own 92.64% of the company's stock.

Everest Group Stock Up 1.6%

EG stock traded up $5.34 during trading on Wednesday, reaching $335.97. 39,707 shares of the stock were exchanged, compared to its average volume of 391,659. The firm's 50 day moving average is $337.02 and its 200 day moving average is $343.79. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market cap of $14.09 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 0.25 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 earnings per share for the quarter, topping analysts' consensus estimates of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the business earned $16.85 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Everest Group's dividend payout ratio is 42.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group reduced their price target on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Citigroup began coverage on Everest Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price target on the stock. Barclays boosted their price objective on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Wolfe Research raised Everest Group to a "strong sell" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Everest Group has a consensus rating of "Hold" and an average target price of $389.80.

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.