Bridgewater Associates LP Buys 3,834 Shares of Everest Group, Ltd. (NYSE:EG)

Bridgewater Associates LP raised its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 16.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,297 shares of the company's stock after acquiring an additional 3,834 shares during the period. Bridgewater Associates LP owned about 0.06% of Everest Group worth $10,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. American National Bank purchased a new stake in Everest Group during the 2nd quarter valued at about $27,000. M&R Capital Management Inc. bought a new stake in Everest Group in the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC boosted its stake in shares of Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock valued at $31,000 after purchasing an additional 52 shares during the period. Eastern Bank bought a new position in shares of Everest Group in the third quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new position in shares of Everest Group in the third quarter worth $39,000. 92.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EG. Jefferies Financial Group lowered shares of Everest Group from a "buy" rating to a "hold" rating and raised their price target for the stock from $420.00 to $429.00 in a report on Tuesday. Barclays cut their target price on Everest Group from $527.00 to $517.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. UBS Group raised Everest Group to a "hold" rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price objective on Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Finally, TD Cowen reduced their target price on Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a research note on Monday, November 18th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $431.30.

Everest Group Stock Down 0.4 %

NYSE EG traded down $1.52 during trading hours on Friday, reaching $387.48. 264,891 shares of the company's stock traded hands, compared to its average volume of 355,852. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $413.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a 50-day simple moving average of $380.80 and a 200 day simple moving average of $381.01. The firm has a market cap of $16.65 billion, a PE ratio of 6.09, a PEG ratio of 2.88 and a beta of 0.63.

Everest Group Dividend Announcement

The business 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. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. Everest Group's payout ratio is currently 12.52%.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. bought 2,870 shares of the business's stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

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.