Point72 DIFC Ltd Invests $1.76 Million in Everest Group, Ltd. (NYSE:EG)

Point72 DIFC Ltd purchased a new position in 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 institutional investor purchased 4,487 shares of the company's stock, valued at approximately $1,758,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mizuho Securities USA LLC increased its position in shares of Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company's stock worth $162,766,000 after purchasing an additional 412,040 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 last quarter. William Blair Investment Management LLC increased its position in shares of Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company's stock worth $221,057,000 after purchasing an additional 134,517 shares during the last quarter. Assetmark Inc. increased its position in shares of Everest Group by 39.7% in the third 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 increased its position in shares of Everest Group by 21.5% in the third quarter. FMR LLC now owns 410,861 shares of the company's stock worth $160,988,000 after purchasing an additional 72,822 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Down 1.1 %

EG stock traded down $4.11 on Thursday, reaching $374.66. The company's stock had a trading volume of 404,465 shares, compared to its average volume of 357,045. The business has a fifty day simple moving average of $380.44 and a two-hundred day simple moving average of $380.97. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $407.30. The firm has a market cap of $16.10 billion, a PE ratio of 5.86, a PEG ratio of 2.85 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group Announces Dividend

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 paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group's payout ratio is 12.52%.

Analyst Upgrades and Downgrades

EG has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company reduced their price target on shares of Everest Group from $402.00 to $390.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Bank of America reduced their price target on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their price target on shares of Everest Group from $454.00 to $438.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group cut shares of 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 report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $430.10.

Insider Buying and Selling

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $348.64 per share, with a total value 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 $11,443,062.08. This represents a 9.58 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the firm's stock in a transaction on Thursday, November 14th. The shares were 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 of the company's stock, valued at $5,553,330. This represents 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.

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.