Assetmark Inc. Buys 116,559 Shares of Everest Group, Ltd. (NYSE:EG)

Assetmark Inc. lifted its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 39.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 409,989 shares of the company's stock after purchasing an additional 116,559 shares during the period. Assetmark Inc. owned 0.95% of Everest Group worth $160,646,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC acquired a new position in Everest Group in the 3rd quarter valued at approximately $389,000. CWA Asset Management Group LLC acquired a new position in shares of Everest Group in the 3rd quarter worth approximately $340,000. Summit Global Investments grew its position in Everest Group by 4.7% in the third quarter. Summit Global Investments now owns 37,371 shares of the company's stock valued at $14,643,000 after acquiring an additional 1,686 shares during the period. TFB Advisors LLC boosted its stake in shares of Everest Group by 14.8% in the 3rd quarter. TFB Advisors LLC now owns 2,055 shares of the company's stock valued at $805,000 after purchasing an additional 265 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Everest Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company's stock worth $21,117,000 after purchasing an additional 2,818 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Trading Up 1.7 %

Shares of EG traded up $6.24 during trading hours on Friday, hitting $368.29. 408,387 shares of the stock traded hands, compared to its average volume of 348,067. The company has a current ratio of 0.40, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.92. The firm has a market capitalization of $15.83 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. The business has a fifty day moving average of $383.08 and a 200-day moving average of $380.43.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Wednesday, November 27th. Everest Group's dividend payout ratio (DPR) is presently 12.52%.

Wall Street Analyst Weigh In

EG has been the topic of a number of recent analyst reports. 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. UBS Group upgraded Everest Group to a "hold" rating in a research report on Wednesday, October 9th. Barclays cut their price objective on Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group increased their target price on Everest Group from $440.00 to $457.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, TD Cowen cut their price target on Everest Group from $419.00 to $405.00 and set a "hold" rating for the company in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Everest Group has a consensus rating of "Moderate Buy" and a consensus target price of $438.00.

Insider Activity

In other news, EVP Mike Karmilowicz sold 269 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the transaction, the executive vice president now owns 12,726 shares of the company's stock, valued at $4,434,756.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now owns 12,726 shares of the company's stock, valued at approximately $4,434,756.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. bought 2,870 shares of the business's stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the purchase, the director now directly owns 32,822 shares of the company's stock, valued at approximately $11,443,062.08. This trade represents a 0.00 % increase in their position. The disclosure for this purchase 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.