MMA Asset Management LLC Takes $278,000 Position in Everest Group, Ltd. (NYSE:EG)

MMA Asset Management LLC acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 768 shares of the company’s stock, valued at approximately $278,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in Everest Group during the 3rd quarter worth approximately $39,000. Private Trust Co. NA boosted its stake in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after acquiring an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Everest Group during the 3rd quarter worth approximately $64,000. Avior Wealth Management LLC raised its holdings in Everest Group by 22.4% during the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after buying an additional 47 shares during the period. Finally, Steph & Co. raised its holdings in Everest Group by 10.6% during the 4th quarter. Steph & Co. now owns 366 shares of the company’s stock worth $133,000 after buying an additional 35 shares during the period. Institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

NYSE EG opened at $353.45 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. The company has a market capitalization of $15.19 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.24 and a beta of 0.65. The firm’s 50 day moving average is $352.59 and its 200-day moving average is $370.07.

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

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. Everest Group’s dividend payout ratio is presently 25.47%.

Wall Street Analysts Forecast Growth

EG has been the topic of several research analyst reports. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. TD Cowen dropped their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Morgan Stanley restated an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Wells Fargo & Company dropped their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays raised their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $416.50.

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.