Davis Selected Advisers Grows Stock Position in Everest Group, Ltd. (NYSE:EG)

Davis Selected Advisers lifted its stake in Everest Group, Ltd. (NYSE:EG) by 0.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 39,212 shares of the company’s stock after buying an additional 329 shares during the period. Davis Selected Advisers’ holdings in Everest Group were worth $14,213,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Everest Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock worth $453,818,000 after buying an additional 16,180 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Everest Group by 6.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock worth $192,267,000 after buying an additional 30,458 shares during the period. Assetmark Inc. increased its holdings in shares of Everest Group by 1.4% in the fourth quarter. Assetmark Inc. now owns 415,638 shares of the company’s stock worth $150,652,000 after buying an additional 5,649 shares during the period. Mizuho Securities USA LLC increased its holdings in shares of Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after buying an additional 412,040 shares during the period. Finally, FMR LLC increased its holdings in Everest Group by 21.5% during the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after purchasing an additional 72,822 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $363.88 on Friday. The stock’s 50 day simple moving average is $352.36 and its two-hundred day simple moving average is $369.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share 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%. As a group, analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be given a $2.00 dividend. The ex-dividend date is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.20%. Everest Group’s dividend payout ratio is currently 25.47%.

Wall Street Analyst Weigh In

EG has been the topic of a number of research analyst reports. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Wells Fargo & Company reduced their price target on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. TD Cowen reduced their price target on 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 price target (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods boosted their price target on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $416.50.

Everest Group 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.