Assenagon Asset Management S.A. Acquires New Holdings in Everest Group, Ltd. (NYSE:EG)

Assenagon Asset Management S.A. bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,150 shares of the company’s stock, valued at approximately $417,000.

Other large investors also recently made changes to their positions in the company. Mizuho Securities USA LLC grew its position in Everest Group by 12,263.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock valued at $162,766,000 after buying an additional 412,040 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Everest Group in the 3rd quarter worth approximately $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Everest Group by 442.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock valued at $120,744,000 after acquiring an additional 251,337 shares in the last quarter. Assetmark Inc. increased its stake in shares of Everest Group by 39.7% during the third quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock valued at $160,646,000 after acquiring an additional 116,559 shares during the period. Finally, FMR LLC raised its holdings in Everest Group by 21.5% during the third quarter. FMR LLC now owns 410,861 shares of the company’s stock worth $160,988,000 after purchasing an additional 72,822 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $365.52 on Friday. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $407.30. The company has a 50-day moving average of $367.39 and a two-hundred day moving average of $376.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 5.72, a PEG ratio of 2.47 and a beta of 0.65.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group’s payout ratio is 12.52%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EG shares. Bank of America lowered their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets raised Everest Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $372.00 to $453.00 in a report on Friday, January 10th. UBS Group upgraded shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.44.

Insider Buying and Selling at Everest Group

In other news, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the sale, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the company’s stock in a transaction on Monday, November 4th. The stock was bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the purchase, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

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.