Everest Group, Ltd. (NYSE:EG) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its position in shares of Everest Group, Ltd. (NYSE:EG) by 86.9% during the 4th quarter, HoldingsChannel reports. The fund owned 3,526 shares of the company’s stock after selling 23,436 shares during the quarter. Nordea Investment Management AB’s holdings in Everest Group were worth $1,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EG. Acadian Asset Management LLC acquired a new position in Everest Group in the second quarter valued at about $601,000. Daiwa Securities Group Inc. lifted its position in Everest Group by 12.3% in the second quarter. Daiwa Securities Group Inc. now owns 4,744 shares of the company’s stock valued at $1,808,000 after buying an additional 519 shares during the last quarter. Headlands Technologies LLC acquired a new position in Everest Group in the second quarter valued at about $90,000. American Century Companies Inc. lifted its position in Everest Group by 19.3% in the second quarter. American Century Companies Inc. now owns 110,303 shares of the company’s stock valued at $42,028,000 after buying an additional 17,850 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Everest Group by 2.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 34,755 shares of the company’s stock valued at $13,209,000 after buying an additional 770 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of NYSE EG opened at $353.95 on Monday. The firm has a market capitalization of $15.21 billion, a P/E ratio of 5.54, a PEG ratio of 2.69 and a beta of 0.65. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $407.30. The company’s fifty day moving average is $368.10 and its two-hundred day moving average is $376.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. Everest Group’s dividend payout ratio is presently 12.52%.

Insider Buying and Selling

In related news, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the purchase, the director now owns 32,822 shares in the company, valued at approximately $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.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets raised shares of Everest Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $372.00 to $453.00 in a research report on Friday. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Wells Fargo & Company reduced their price target on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Finally, UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.56.

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.