Hsbc Holdings PLC Acquires 5,101 Shares of Everest Group, Ltd. (NYSE:EG)

Hsbc Holdings PLC increased its holdings in Everest Group, Ltd. (NYSE:EG) by 11.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 47,947 shares of the company’s stock after acquiring an additional 5,101 shares during the quarter. Hsbc Holdings PLC’s holdings in Everest Group were worth $17,410,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. J. Safra Sarasin Holding AG lifted its holdings in shares of Everest Group by 9.2% in the 4th quarter. J. Safra Sarasin Holding AG now owns 4,385 shares of the company’s stock worth $1,589,000 after acquiring an additional 368 shares during the last quarter. Stifel Financial Corp lifted its holdings in Everest Group by 317.3% in the 4th quarter. Stifel Financial Corp now owns 18,141 shares of the company’s stock worth $6,575,000 after buying an additional 13,794 shares during the period. Tower Research Capital LLC TRC increased its position in Everest Group by 26.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,145 shares of the company’s stock valued at $1,140,000 after purchasing an additional 650 shares during the period. Mesirow Institutional Investment Management Inc. purchased a new stake in Everest Group in the fourth quarter worth about $2,965,000. Finally, MetLife Investment Management LLC boosted its position in shares of Everest Group by 1.0% during the fourth quarter. MetLife Investment Management LLC now owns 11,686 shares of the company’s stock valued at $4,236,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EG shares. Barclays dropped their price target on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods lowered their price objective on Everest Group from $434.00 to $402.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price objective on shares of Everest Group from $370.00 to $362.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and a consensus price target of $396.00.

Insiders Place Their Bets

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now directly owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Everest Group Stock Down 0.5 %

Shares of EG opened at $353.32 on Friday. The company’s 50-day moving average price is $352.06 and its 200 day moving average price is $360.78. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The firm has a market cap of $16.88 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43.

Everest Group (NYSE:EG) last released its earnings results 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%. On average, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, March 17th. Everest Group’s dividend payout ratio is presently 25.47%.

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.