Corebridge Financial Inc. Has $3.72 Million Stock Position in Everest Group, Ltd. (NYSE:EG)

Corebridge Financial Inc. cut its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,258 shares of the company’s stock after selling 567 shares during the quarter. Corebridge Financial Inc.’s holdings in Everest Group were worth $3,718,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock valued at $8,225,000 after purchasing an additional 13,687 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Everest Group by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after buying an additional 12,791 shares during the last quarter. Brophy Wealth Management LLC bought a new position in Everest Group during the third quarter valued at approximately $749,000. Principal Financial Group Inc. lifted its stake in Everest Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after acquiring an additional 2,818 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Everest Group by 3.9% in the third quarter. Stifel Financial Corp now owns 4,347 shares of the company’s stock worth $1,704,000 after acquiring an additional 162 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EG. Wells Fargo & Company reduced their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Keefe, Bruyette & Woods boosted their target price on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. 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. Finally, Barclays boosted their price objective on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $416.50.

Everest Group Stock Down 1.6 %

EG opened at $361.50 on Monday. The business has a 50 day moving average of $351.43 and a 200-day moving average of $366.38. The stock has a market capitalization of $15.52 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 0.24 and a beta of 0.61. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 1-year low of $327.37 and a 1-year high of $407.30.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were issued a $2.00 dividend. The ex-dividend date was Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.21%. Everest Group’s dividend payout ratio (DPR) is 25.47%.

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.