Entropy Technologies LP Buys New Shares in Everest Group, Ltd. (NYSE:EG)

Entropy Technologies LP bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,702 shares of the company's stock, valued at approximately $1,059,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Everest Group by 284.8% in the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company's stock valued at $9,622,000 after purchasing an additional 18,175 shares during the period. Clearbridge Investments LLC lifted its position in Everest Group by 1.5% during the 1st quarter. Clearbridge Investments LLC now owns 289,439 shares of the company's stock worth $115,052,000 after acquiring an additional 4,412 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Everest Group in the 2nd quarter worth approximately $921,000. Blue Trust Inc. grew its position in Everest Group by 92.9% in the second quarter. Blue Trust Inc. now owns 162 shares of the company's stock valued at $64,000 after acquiring an additional 78 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Everest Group by 29.6% during the third quarter. Raymond James & Associates now owns 31,966 shares of the company's stock worth $12,525,000 after purchasing an additional 7,306 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

Shares of NYSE EG traded down $4.42 during trading hours on Thursday, reaching $366.26. The stock had a trading volume of 350,193 shares, compared to its average volume of 349,073. The company has a market cap of $15.74 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 2.64 and a beta of 0.63. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92. The business's fifty day moving average is $381.24 and its two-hundred day moving average is $380.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Wednesday, November 27th. Everest Group's dividend payout ratio (DPR) is 12.52%.

Wall Street Analyst Weigh In

EG has been the subject of several recent analyst reports. TD Cowen lowered their target price on Everest Group from $419.00 to $405.00 and set a "hold" rating for the company in a research note on Tuesday, August 13th. Jefferies Financial Group lifted their price objective on Everest Group from $440.00 to $457.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. UBS Group upgraded Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Barclays dropped their price target on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on shares of Everest Group from $406.00 to $402.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $435.18.

Insiders Place Their Bets

In other news, EVP Mike Karmilowicz sold 269 shares of the 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 sale, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the company's stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the purchase, the director now owns 32,822 shares of the company's stock, 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. Corporate insiders own 1.20% of the company's stock.

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.