Allstate Corp Invests $506,000 in Everest Group, Ltd. (NYSE:EG)

Allstate Corp acquired a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,397 shares of the company's stock, valued at approximately $506,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EG. Vanguard Group Inc. grew its holdings in shares of Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after purchasing an additional 43,793 shares during the last quarter. Norges Bank bought a new stake in Everest Group during the 4th quarter worth approximately $488,588,000. Geode Capital Management LLC grew its holdings in Everest Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company's stock worth $453,818,000 after acquiring an additional 16,180 shares during the last quarter. William Blair Investment Management LLC increased its position in Everest Group by 10.5% in the 4th quarter. William Blair Investment Management LLC now owns 642,813 shares of the company's stock valued at $232,994,000 after acquiring an additional 61,026 shares during the period. Finally, Assetmark Inc. raised its stake in shares of Everest Group by 1.4% during the fourth quarter. Assetmark Inc. now owns 415,638 shares of the company's stock valued at $150,652,000 after acquiring an additional 5,649 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Activity

In other news, Director Geraldine Losquadro sold 1,500 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company's stock.

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Everest Group Trading Down 6.8 %

Shares of Everest Group stock traded down $24.67 on Friday, hitting $337.09. 682,856 shares of the company's stock traded hands, compared to its average volume of 368,157. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a fifty day moving average of $350.91 and a two-hundred day moving average of $365.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a one year low of $327.37 and a one year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, sell-side analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group's dividend payout ratio (DPR) is currently 25.47%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley reissued an "equal weight" rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price objective on Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. Barclays upped their target price on Everest Group from $461.00 to $470.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.