Mackenzie Financial Corp Acquires Shares of 43,686 Everest Group, Ltd. (NYSE:EG)

Mackenzie Financial Corp acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,686 shares of the company’s stock, valued at approximately $15,446,000. Mackenzie Financial Corp owned 0.10% of Everest Group at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EG. Allworth Financial LP purchased a new position in Everest Group during the 4th quarter worth $25,000. Janiczek Wealth Management LLC acquired a new position in Everest Group in the 4th quarter valued at about $27,000. Trifecta Capital Advisors LLC purchased a new stake in Everest Group during the 4th quarter valued at approximately $28,000. Toth Financial Advisory Corp acquired a new stake in Everest Group during the 4th quarter worth approximately $46,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Everest Group in the 4th quarter valued at approximately $102,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Everest Group news, CEO Mike Karmilowicz purchased 285 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, with a total value of $100,431.15. Following the purchase, the chief executive officer now owns 10,586 shares in the company, valued at $3,730,400.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Mike Karmilowicz purchased 285 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the acquisition, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger M. Singer bought 500 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the transaction, the director now directly owns 16,920 shares in the company, valued at approximately $6,043,993.20. The disclosure for this purchase can be found here. Insiders acquired a total of 2,485 shares of company stock valued at $874,786 over the last quarter. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EG shares. TD Cowen started coverage on Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target for the company. Wells Fargo & Company lowered their target price 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. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Finally, Morgan Stanley dropped their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

Everest Group Trading Up 0.9 %

Shares of Everest Group stock opened at $360.26 on Friday. The business has a 50 day moving average price of $375.63 and a 200 day moving average price of $380.20. The company has a market capitalization of $19.19 billion, a P/E ratio of 6.03, a P/E/G ratio of 3.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. Everest Group, Ltd. has a 1 year low of $331.08 and a 1 year high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the business posted $12.21 EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. Sell-side analysts anticipate that Everest Group, Ltd. will post 61.21 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

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.