Zimmer Partners LP Buys 26,224 Shares of Everest Group, Ltd. (NYSE:EG)

Zimmer Partners LP boosted its stake in Everest Group, Ltd. (NYSE:EG) by 26.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,224 shares of the company’s stock after acquiring an additional 26,224 shares during the quarter. Everest Group accounts for 0.9% of Zimmer Partners LP’s portfolio, making the stock its 28th largest position. Zimmer Partners LP owned approximately 0.29% of Everest Group worth $49,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in shares of Everest Group by 284.8% in the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock valued at $9,622,000 after purchasing an additional 18,175 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Everest Group in the 2nd quarter valued at approximately $921,000. Intech Investment Management LLC lifted its position in shares of Everest Group by 13.1% in the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after purchasing an additional 3,166 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Everest Group by 17.0% during the third quarter. Mutual of America Capital Management LLC now owns 19,962 shares of the company’s stock worth $7,822,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Bridgewater Associates LP grew its position in Everest Group by 16.3% in the third quarter. Bridgewater Associates LP now owns 27,297 shares of the company’s stock valued at $10,696,000 after purchasing an additional 3,834 shares in the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Price Performance

Shares of NYSE EG opened at $371.40 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market cap of $15.96 billion, a P/E ratio of 5.81, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. The business’s 50 day moving average is $379.97 and its 200-day moving average is $380.84. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $407.30.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, November 27th. Everest Group’s dividend payout ratio is 12.52%.

Insider Buying and Selling

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. The trade was 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EG. 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. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their price objective on Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Barclays dropped 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. Finally, TD Cowen dropped their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Six investment 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.com, the company currently has an average rating of “Hold” and an average target price of $430.10.

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.