Donald Smith & CO. Inc. Takes $56.34 Million Position in Everest Group, Ltd. (NYSE:EG)

Donald Smith & CO. Inc. acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 155,440 shares of the company’s stock, valued at approximately $56,341,000. Everest Group comprises approximately 1.3% of Donald Smith & CO. Inc.’s portfolio, making the stock its 29th largest holding. Donald Smith & CO. Inc. owned about 0.36% of Everest Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company’s stock worth $2,015,288,000 after purchasing an additional 43,793 shares during the last quarter. Norges Bank acquired a new stake in Everest Group during the 4th quarter worth approximately $488,588,000. Franklin Resources Inc. boosted its position in Everest Group by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company’s stock worth $464,533,000 after buying an additional 4,544 shares during the period. Geode Capital Management LLC grew its holdings in Everest Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company’s stock worth $424,344,000 after acquiring an additional 8,321 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in Everest Group by 10.5% in the 4th quarter. William Blair Investment Management LLC now owns 642,813 shares of the company’s stock valued at $232,994,000 after acquiring an additional 61,026 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Everest Group Trading Up 0.0 %

NYSE EG opened at $365.59 on Thursday. The stock has a market capitalization of $15.70 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.24 and a beta of 0.61. The business has a 50 day simple moving average of $351.50 and a 200 day simple moving average of $366.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a one year low of $327.37 and a one year high of $407.30.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.19%. The ex-dividend date was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is currently 25.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Barclays lifted their target price on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Keefe, Bruyette & Woods raised their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $416.50.

Everest Group 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.