Mutual of America Capital Management LLC Raises Position in Everest Group, Ltd. (NYSE:EG)

Mutual of America Capital Management LLC raised its stake in Everest Group, Ltd. (NYSE:EG) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,943 shares of the company’s stock after purchasing an additional 989 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Everest Group were worth $6,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Trust Direct Indexing L.P. lifted its holdings in Everest Group by 0.9% during the first quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock worth $1,183,000 after acquiring an additional 28 shares during the period. Fifth Third Bancorp lifted its holdings in Everest Group by 6.1% during the first quarter. Fifth Third Bancorp now owns 924 shares of the company’s stock worth $367,000 after acquiring an additional 53 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Everest Group by 5.5% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,214 shares of the company’s stock worth $483,000 after acquiring an additional 63 shares during the period. Allworth Financial LP bought a new stake in Everest Group during the fourth quarter worth $25,000. Finally, Avior Wealth Management LLC bought a new stake in Everest Group during the fourth quarter worth $25,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Performance

Shares of EG traded up $2.40 during mid-day trading on Tuesday, hitting $375.44. The stock had a trading volume of 78,854 shares, compared to its average volume of 326,627. The firm has a market cap of $16.32 billion, a P/E ratio of 5.54, a PEG ratio of 3.18 and a beta of 0.63. Everest Group, Ltd. has a 52 week low of $343.36 and a 52 week high of $417.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38. The business has a fifty day moving average price of $379.91 and a 200-day moving average price of $375.18.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.05 billion. During the same period in the previous year, the business earned $11.31 earnings per share. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts expect that Everest Group, Ltd. will post 61.65 EPS for the current year.

Everest Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.13%. This is a boost from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Wednesday, May 29th. Everest Group’s payout ratio is presently 11.89%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EG. Wells Fargo & Company dropped their price target 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. Morgan Stanley dropped their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $432.11.

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.