Wellington Management Group LLP Sells 571,324 Shares of Everest Group, Ltd. (NYSE:EG)

Wellington Management Group LLP lowered its stake in Everest Group, Ltd. (NYSE:EG) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,634,409 shares of the company’s stock after selling 571,324 shares during the period. Wellington Management Group LLP’s holdings in Everest Group were worth $592,408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Everest Group in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Everest Group in the 3rd quarter valued at $64,000. Private Trust Co. NA raised its stake in Everest Group by 48.5% during the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after buying an additional 64 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after acquiring an additional 64 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after acquiring an additional 47 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Up 0.5 %

Shares of NYSE:EG opened at $363.91 on Tuesday. The company’s 50-day moving average price is $351.46 and its two-hundred day moving average price is $366.27. Everest Group, Ltd. has a one year low of $327.37 and a one year high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $15.62 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last released its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, equities analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a $2.00 dividend. The ex-dividend date was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.20%. Everest Group’s dividend payout ratio is presently 25.47%.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EG shares. Wells Fargo & Company dropped their price target on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their target price 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. Finally, Barclays lifted their price target on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $416.50.

About Everest Group

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.