Resona Asset Management Co. Ltd. Acquires 821 Shares of Everest Group, Ltd. (NYSE:EG)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Everest Group, Ltd. by 6.5% in Q1 after acquiring an additional 821 shares, bringing their total to 13,442 shares valued at approximately $4.88 million.
• Multiple institutional investors also boosted their stakes in Everest Group, with notable increases from Wells Fargo (up 66.9% in Q4) and Jump Financial LLC (up 19.6% in Q4).
• Everest Group recently declared a quarterly dividend of $2.00 per share, reflecting an annualized yield of 2.4% and a payout ratio of 42.46%.

Resona Asset Management Co. Ltd. raised its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,442 shares of the company's stock after purchasing an additional 821 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Everest Group were worth $4,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Wells Fargo & Company MN boosted its stake in shares of Everest Group by 66.9% during the 4th quarter. Wells Fargo & Company MN now owns 18,393 shares of the company's stock worth $6,667,000 after purchasing an additional 7,372 shares during the period. Jump Financial LLC grew its holdings in Everest Group by 19.6% during the 4th quarter. Jump Financial LLC now owns 8,979 shares of the company's stock valued at $3,255,000 after purchasing an additional 1,473 shares during the last quarter. United Capital Financial Advisors LLC grew its holdings in Everest Group by 7.1% during the 4th quarter. United Capital Financial Advisors LLC now owns 888 shares of the company's stock valued at $322,000 after purchasing an additional 59 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Everest Group by 38.1% during the 4th quarter. NewEdge Advisors LLC now owns 1,928 shares of the company's stock valued at $699,000 after purchasing an additional 532 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Everest Group by 5.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 38,264 shares of the company's stock valued at $13,858,000 after purchasing an additional 1,821 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Insider Buying and Selling at Everest Group

In other news, CEO James Allan Williamson purchased 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on EG. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Barclays upped their price target on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Raymond James Financial reiterated a "strong-buy" rating and set a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. UBS Group cut their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Finally, Wells Fargo & Company reaffirmed a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $397.14.

Everest Group Trading Down 1.5%

NYSE EG opened at $332.11 on Friday. 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 company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 0.25 and a beta of 0.50. The company's 50-day simple moving average is $335.06 and its two-hundred day simple moving average is $343.60. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last posted its 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. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $16.85 EPS. Equities analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

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.

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