Everest Group, Ltd. (NYSE:EG) Stake Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 15.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,801 shares of the company’s stock after purchasing an additional 375 shares during the period. Exchange Traded Concepts LLC’s holdings in Everest Group were worth $1,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in Everest Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock valued at $453,818,000 after buying an additional 16,180 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Everest Group by 6.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock worth $192,267,000 after buying an additional 30,458 shares during the period. Mizuho Securities USA LLC boosted its position in Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock valued at $162,766,000 after buying an additional 412,040 shares in the last quarter. FMR LLC increased its holdings in Everest Group by 21.5% during the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after purchasing an additional 72,822 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Everest Group by 39.7% in the third quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock valued at $160,646,000 after buying an additional 116,559 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EG has been the topic of several research reports. BMO Capital Markets raised Everest Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $372.00 to $453.00 in a report on Friday, January 10th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and raised their price target for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Bank of America dropped their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Barclays reduced their target price on shares of Everest Group from $499.00 to $461.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $431.22.

Everest Group Trading Down 1.3 %

Shares of NYSE EG opened at $368.24 on Wednesday. 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, Ltd. has a twelve month low of $343.76 and a twelve month high of $407.30. The company’s fifty day moving average is $367.33 and its 200-day moving average is $376.04. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 5.76, a P/E/G ratio of 2.47 and a beta of 0.65.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.17%. Everest Group’s payout ratio is 12.52%.

Insiders Place Their Bets

In related news, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

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.