Fresh Scoop Today

Principal Financial Group Inc. Increases Stake in Everest Group, Ltd. (NYSE:EG)


Principal Financial Group Inc. Increases Stake in Everest Group, Ltd. (NYSE:EG)

Principal Financial Group Inc. raised its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,892 shares of the company's stock after purchasing an additional 2,818 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Everest Group worth $21,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position 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 valued at $453,818,000 after purchasing an additional 16,180 shares during the period. AQR Capital Management LLC raised its holdings in Everest Group by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company's stock valued at $393,395,000 after acquiring an additional 17,885 shares during the period. William Blair Investment Management LLC lifted its position in shares of Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company's stock worth $221,057,000 after acquiring an additional 134,517 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company's stock worth $203,891,000 after acquiring an additional 38,254 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted 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 acquiring an additional 30,458 shares during the period. Institutional investors own 92.64% of the company's stock.

Shares of NYSE:EG opened at $362.38 on Thursday. The stock has a market capitalization of $15.57 billion, a P/E ratio of 5.67, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. The stock's 50-day moving average price is $371.73 and its 200-day moving average price is $378.19. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $407.30.

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Wednesday, November 27th. Everest Group's dividend payout ratio (DPR) is presently 12.52%.

Several research analysts have commented on the company. UBS Group upgraded Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Jefferies Financial Group lowered shares of Everest Group from a "buy" rating to a "hold" rating and raised their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their target price on shares of Everest Group from $402.00 to $390.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 4th. Bank of America cut their price target on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a report on Thursday, October 10th. Finally, BMO Capital Markets decreased their price target on shares of Everest Group from $383.00 to $372.00 and set a "market perform" rating on the stock in a report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $430.00.

Get Our Latest Report on EG

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Everest Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Everest Group wasn't on the list.

While Everest Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

Previous articleNext article

POPULAR CATEGORY

entertainment

10037

discovery

4553

multipurpose

10601

athletics

10541