Mitsubishi UFJ Trust & Banking Corp Reduces Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Everest Group, Ltd. (NYSE:EG) by 22.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,816 shares of the company’s stock after selling 14,813 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of Everest Group worth $19,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP purchased a new stake in shares of Everest Group during the 4th quarter valued at approximately $25,000. Avior Wealth Management LLC purchased a new stake in Everest Group in the fourth quarter valued at $25,000. Headlands Technologies LLC acquired a new position in shares of Everest Group in the 4th quarter valued at $25,000. Janiczek Wealth Management LLC acquired a new position in shares of Everest Group in the 4th quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Everest Group during the 4th quarter worth $28,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Down 3.7 %

EG traded down $14.68 during trading hours on Friday, hitting $385.32. 916,777 shares of the company’s stock were exchanged, compared to its average volume of 275,905. Everest Group, Ltd. has a 12-month low of $343.36 and a 12-month high of $417.92. The firm has a 50 day moving average of $382.04 and a 200 day moving average of $377.14. The firm has a market cap of $16.75 billion, a P/E ratio of 5.73, a price-to-earnings-growth ratio of 1.99 and a beta of 0.63. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last announced its earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping the consensus estimate of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm earned $11.31 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. Analysts predict that Everest Group, Ltd. will post 61.28 EPS for the current fiscal 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 paid a dividend of $2.00 per share. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.08%. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio is presently 11.89%.

Analysts Set New Price Targets

EG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Bank of America upped their price objective on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company decreased their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Finally, Morgan Stanley decreased their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $437.40.

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.