The Manufacturers Life Insurance Company Has $11.24 Million Stake in Everest Group, Ltd. (NYSE:EG)

The Manufacturers Life Insurance Company reduced its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,003 shares of the company's stock after selling 1,130 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Everest Group worth $11,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Everest Group during the 4th quarter worth about $488,588,000. Vulcan Value Partners LLC raised 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 acquiring an additional 720,572 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Everest Group by 11,756.0% in the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock worth $100,987,000 after acquiring an additional 276,266 shares in the last quarter. Donald Smith & CO. Inc. bought a new stake in Everest Group during the 4th quarter worth approximately $56,341,000. Finally, Raymond James Financial Inc. acquired a new stake in Everest Group during the 4th quarter valued at $48,290,000. 92.64% of the stock is owned by institutional investors.

Everest Group Stock Up 3.2 %

Shares of Everest Group stock opened at $348.16 on Monday. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The business has a fifty day simple moving average of $353.32 and a 200 day simple moving average of $359.20. 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 stock has a market cap of $16.64 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the company earned $16.32 earnings per share. The business's revenue was up 3.1% compared to the same quarter last year. Research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.30%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Evercore ISI lowered their price objective on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday. UBS Group reduced their target price on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley reissued an "equal weight" rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, BMO Capital Markets downgraded Everest Group from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Everest Group currently has a consensus rating of "Hold" and a consensus target price of $396.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.