Mount Lucas Management LP Has $2.23 Million Position in Everest Group, Ltd. (NYSE:EG)

Mount Lucas Management LP cut its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 53.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,689 shares of the company's stock after selling 6,597 shares during the quarter. Mount Lucas Management LP's holdings in Everest Group were worth $2,229,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EG. American National Bank acquired a new stake in shares of Everest Group in the second quarter valued at $27,000. M&R Capital Management Inc. acquired a new position in shares of Everest Group in the 3rd quarter valued at about $29,000. Bruce G. Allen Investments LLC lifted its position in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock worth $31,000 after buying an additional 52 shares in the last quarter. Eastern Bank acquired a new stake in shares of Everest Group during the 3rd quarter valued at $35,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company's stock valued at $44,000 after acquiring an additional 31 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the sale, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now owns 32,822 shares of the company's stock, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods cut 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. TD Cowen reduced 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. Bank of America dropped their price objective on Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. UBS Group raised shares of Everest Group to a "hold" rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their target price on shares of Everest Group from $406.00 to $402.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Everest Group has a consensus rating of "Moderate Buy" and an average target price of $435.18.

Everest Group Stock Performance

EG traded up $4.83 during trading on Friday, hitting $371.33. The stock had a trading volume of 355,523 shares, compared to its average volume of 431,484. The firm has a market cap of $15.96 billion, a PE ratio of 5.81, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The company has a 50 day simple moving average of $380.99 and a 200-day simple moving average of $380.62.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.15%. Everest Group's payout ratio is presently 12.52%.

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.