E&G Advisors LP Sells 50 Shares of Everest Group, Ltd. (NYSE:EG)

E&G Advisors LP reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,265 shares of the company’s stock after selling 50 shares during the quarter. E&G Advisors LP’s holdings in Everest Group were worth $459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EG. Mizuho Securities USA LLC boosted its position in Everest Group by 12,263.1% in the 3rd 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 during the last quarter. World Investment Advisors LLC bought a new position in Everest Group in the third quarter valued at about $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Everest Group by 442.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock worth $120,744,000 after purchasing an additional 251,337 shares during the period. Assetmark Inc. raised its holdings in Everest Group by 39.7% during the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock worth $160,646,000 after purchasing an additional 116,559 shares during the last quarter. Finally, FMR LLC lifted its position 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 during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Trading Down 0.5 %

NYSE:EG opened at $345.85 on Tuesday. The business’s 50-day simple moving average is $364.45 and its 200-day simple moving average is $374.69. Everest Group, Ltd. has a fifty-two week low of $341.00 and a fifty-two week high of $407.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $14.86 billion, a PE ratio of 5.41, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 16.99% and a return on equity of 22.45%. Sell-side analysts expect that Everest Group, Ltd. will post 36.3 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Wednesday, November 27th. Everest Group’s dividend payout ratio is 12.52%.

Insider Buying and Selling at Everest Group

In other news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and increased their price target for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Barclays decreased their price objective on Everest Group from $499.00 to $461.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Bank of America cut their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $422.56.

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.