Principal Financial Group Inc. Acquires 2,818 Shares of Everest Group, Ltd. (NYSE:EG)

Principal Financial Group Inc. boosted its holdings in Everest Group, Ltd. (NYSE:EG) by 5.5% during the third quarter, Holdings Channel.com reports. The firm owned 53,892 shares of the company’s stock after acquiring an additional 2,818 shares during the quarter. Principal Financial Group Inc.’s holdings in Everest Group were worth $21,117,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EG. SPX Gestao de Recursos Ltda bought a new position in Everest Group in the 3rd quarter valued at approximately $6,986,000. Synovus Financial Corp raised its stake in shares of Everest Group by 116.4% in the third quarter. Synovus Financial Corp now owns 4,561 shares of the company’s stock worth $1,787,000 after purchasing an additional 2,453 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Everest Group during the third quarter valued at $64,000. World Investment Advisors LLC purchased a new stake in shares of Everest Group during the third quarter valued at $350,000. Finally, Sanctuary Advisors LLC increased its holdings in Everest Group by 7.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,366 shares of the company’s stock worth $531,000 after buying an additional 89 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on EG shares. Wells Fargo & Company lowered 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 research note on Wednesday, December 4th. BMO Capital Markets dropped their target price 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. Bank of America decreased their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus price target of $430.00.

Everest Group Stock Performance

NYSE EG opened at $362.38 on Thursday. The business has a 50-day moving average price of $371.73 and a 200-day moving average price of $378.19. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, November 27th. Everest Group’s payout ratio is currently 12.52%.

Insider Buying and Selling at Everest Group

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

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.