Independent Advisor Alliance Takes $510,000 Position in Everest Group, Ltd. (NYSE:EG)

Independent Advisor Alliance acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,301 shares of the company's stock, valued at approximately $510,000.

Several other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Everest Group by 284.8% during the 3rd 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. purchased a new position in Everest Group in the second quarter valued at $921,000. Intech Investment Management LLC raised 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 acquiring an additional 3,166 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Everest Group by 17.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 19,962 shares of the company's stock worth $7,822,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Everest Group by 92.9% during the 2nd quarter. Blue Trust Inc. now owns 162 shares of the company's stock valued at $64,000 after acquiring an additional 78 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EG. TD Cowen dropped their price objective on Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a report on Monday, November 18th. Jefferies Financial Group lowered shares of 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 report on Tuesday. Barclays decreased their price objective on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company cut their target price on shares of Everest Group from $406.00 to $402.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Everest Group has a consensus rating of "Hold" and an average target price of $431.30.

Insider Activity at Everest Group

In other news, Director William F. Galtney, Jr. purchased 2,870 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James Allan Williamson sold 200 shares of the 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 transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $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 currently owned by insiders.

Everest Group Price Performance

Shares of EG stock traded up $3.48 during trading hours on Thursday, reaching $389.00. The company had a trading volume of 330,936 shares, compared to its average volume of 356,248. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $417.04. The company has a market capitalization of $16.72 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 2.89 and a beta of 0.63. 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 stock has a fifty day moving average of $380.79 and a 200-day moving average of $380.95.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, November 27th. Everest Group's dividend payout ratio (DPR) is presently 12.52%.

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.