Nomura Holdings Inc. Makes New $6.21 Million Investment in Everest Group, Ltd. (NYSE:EG)

Nomura Holdings Inc. purchased a new position in Everest Group, Ltd. (NYSE:EGFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,566 shares of the company’s stock, valued at approximately $6,211,000.

A number of other hedge funds have also recently added to or reduced their stakes in EG. Allworth Financial LP purchased a new position in shares of Everest Group in the 4th quarter worth about $25,000. Avior Wealth Management LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at about $25,000. Headlands Technologies LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at about $25,000. Janiczek Wealth Management LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at about $28,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Trading Down 0.3 %

NYSE:EG opened at $381.69 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92. The business has a 50 day simple moving average of $378.35 and a 200 day simple moving average of $377.10. The firm has a market capitalization of $16.59 billion, a P/E ratio of 5.67, a P/E/G ratio of 3.36 and a beta of 0.62.

Everest Group (NYSE:EGGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the firm posted $11.31 EPS. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts predict that Everest Group, Ltd. will post 61.65 EPS for the current year.

Everest Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s payout ratio is 11.89%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EG shares. Wells Fargo & Company dropped their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley dropped their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Get Our Latest Research Report on Everest Group

About Everest Group

(Free Report)

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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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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