Bright Futures Wealth Management LLC. Sells 2,288 Shares of Everest Group, Ltd. (NYSE:EG)

Bright Futures Wealth Management LLC. trimmed its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 33.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,478 shares of the company's stock after selling 2,288 shares during the quarter. Everest Group accounts for approximately 1.4% of Bright Futures Wealth Management LLC.'s holdings, making the stock its 22nd biggest holding. Bright Futures Wealth Management LLC.'s holdings in Everest Group were worth $1,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company's stock valued at $8,225,000 after acquiring an additional 13,687 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Everest Group by 19.5% during the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company's stock worth $30,747,000 after purchasing an additional 12,791 shares during the last quarter. Brophy Wealth Management LLC purchased a new position in shares of Everest Group during the third quarter worth $749,000. Intech Investment Management LLC increased its holdings in Everest Group by 13.1% in the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company's stock valued at $10,706,000 after buying an additional 3,166 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Everest Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company's stock valued at $21,117,000 after buying an additional 2,818 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EG has been the topic of several research analyst reports. Barclays lifted their target price on shares of Everest Group from $461.00 to $470.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Morgan Stanley reissued an "equal weight" rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Finally, TD Cowen cut their target price on shares of 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $416.50.

Everest Group Stock Performance

Shares of NYSE EG traded up $5.14 during midday trading on Tuesday, reaching $337.83. 419,004 shares of the company traded hands, compared to its average volume of 438,942. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50-day moving average price of $354.83 and a 200 day moving average price of $371.18. Everest Group, Ltd. has a 52 week low of $327.37 and a 52 week high of $407.30. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 0.22 and a beta of 0.65.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts' consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Sell-side analysts anticipate that Everest Group, Ltd. will post 53.11 earnings per share for the current fiscal year.

Everest Group Company 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.