Bridgewater Associates LP Boosts Holdings in Everest Group, Ltd. (NYSE:EG)

Bridgewater Associates LP raised its stake in Everest Group, Ltd. (NYSE:EG) by 16.3% during the third quarter, Holdings Channel reports. The fund owned 27,297 shares of the company’s stock after buying an additional 3,834 shares during the period. Bridgewater Associates LP’s holdings in Everest Group were worth $10,696,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of EG. American National Bank bought a new stake in shares of Everest Group in the 2nd quarter worth approximately $27,000. M&R Capital Management Inc. purchased a new stake in Everest Group in the third quarter worth $29,000. Bruce G. Allen Investments LLC raised its stake in shares of Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank purchased a new position in shares of Everest Group during the 3rd quarter valued at $35,000. Finally, Brooklyn Investment Group purchased a new position in shares of Everest Group during the 3rd quarter valued at $39,000. 92.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EG. Barclays lowered their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price target on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Bank of America reduced their price objective 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. TD Cowen dropped their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, BMO Capital Markets reduced their price target on Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Everest Group currently has a consensus rating of “Hold” and a consensus price target of $431.30.

Everest Group Trading Up 0.9 %

Shares of EG stock opened at $389.00 on Friday. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $417.04. The business’s fifty day moving average is $380.79 and its 200 day moving average is $380.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $16.72 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 2.88 and a beta of 0.63.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, November 27th. Everest Group’s payout ratio is 12.52%.

Insider Transactions at Everest Group

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction dated 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 owns 12,726 shares in the company, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction dated Thursday, November 14th. The stock was 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. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

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.