Victory Capital Management Inc. Sells 33,647 Shares of Everest Group, Ltd. (NYSE:EG)

Victory Capital Management Inc. cut its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,402 shares of the company's stock after selling 33,647 shares during the quarter. Victory Capital Management Inc. owned approximately 0.61% of Everest Group worth $102,817,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EG. Csenge Advisory Group lifted its stake in shares of Everest Group by 2.2% during the second quarter. Csenge Advisory Group now owns 1,239 shares of the company's stock valued at $472,000 after buying an additional 27 shares during the period. Legend Financial Advisors Inc. boosted its holdings in shares of Everest Group by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company's stock worth $672,000 after purchasing an additional 27 shares during the last quarter. Wedmont Private Capital lifted its position in Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company's stock worth $238,000 after buying an additional 29 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company's stock worth $44,000 after buying an additional 31 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in Everest Group by 4.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 745 shares of the company's stock valued at $284,000 after buying an additional 33 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EG shares. Wells Fargo & Company decreased their target price on shares of Everest Group from $406.00 to $402.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price objective on shares of Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. TD Cowen reduced their target price on shares of Everest Group from $419.00 to $405.00 and set a "hold" rating on the stock in a report on Tuesday, August 13th. Bank of America decreased their target price on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a research note on Thursday, October 10th. Finally, Jefferies Financial Group boosted their price objective on shares of Everest Group from $440.00 to $457.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.18.

Everest Group Price Performance

NYSE:EG traded down $4.18 during trading hours on Thursday, reaching $366.50. 350,136 shares of the company's stock were exchanged, compared to its average volume of 349,073. The company has a market capitalization of $15.75 billion, a P/E ratio of 5.80, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The business's 50-day simple moving average is $381.70 and its two-hundred day simple moving average is $380.60. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Announces Dividend

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 given a $2.00 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.18%. Everest Group's dividend payout ratio (DPR) is 12.52%.

Insider Buying and Selling

In other Everest Group news, Director William F. Galtney, Jr. acquired 2,870 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 12,726 shares of the company's stock, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company 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.