Mesirow Financial Investment Management Inc. Increases Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Mesirow Financial Investment Management Inc. boosted its position in Everest Group, Ltd. (NYSE:EG) by 60.1% during the 4th quarter, HoldingsChannel reports. The firm owned 1,071 shares of the company’s stock after purchasing an additional 402 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Everest Group were worth $388,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after purchasing an additional 13,687 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Everest Group by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after buying an additional 12,791 shares during the period. Brophy Wealth Management LLC bought a new position in shares of Everest Group in the third quarter worth about $749,000. Intech Investment Management LLC raised its stake in shares of Everest Group by 13.1% in the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after buying an additional 3,166 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Everest Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after buying an additional 2,818 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on EG. Barclays raised their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods raised their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Everest Group has an average rating of “Hold” and a consensus price target of $416.50.

Everest Group Stock Up 0.1 %

Shares of EG opened at $363.88 on Friday. The business’s 50 day moving average is $352.43 and its 200 day moving average is $369.55. The company has a market capitalization of $15.62 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last issued its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, March 17th. Everest Group’s dividend payout ratio is presently 25.47%.

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.