Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Everest Group, Ltd. (NYSE:EG)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,752 shares of the company's stock after acquiring an additional 8,345 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Everest Group worth $45,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Entropy Technologies LP acquired a new stake in Everest Group during the third quarter worth $1,059,000. Covestor Ltd raised its stake in shares of Everest Group by 9.0% in the 3rd quarter. Covestor Ltd now owns 520 shares of the company's stock valued at $204,000 after acquiring an additional 43 shares during the period. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Everest Group in the 3rd quarter valued at approximately $262,000. Assetmark Inc. boosted its position in shares of Everest Group by 39.7% during the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company's stock worth $160,646,000 after purchasing an additional 116,559 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new stake in Everest Group in the 3rd quarter valued at approximately $389,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Insider Buying and Selling at Everest Group

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their price target on Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. BMO Capital Markets dropped their target price on Everest Group from $383.00 to $372.00 and set a "market perform" rating for the company in a research report on Thursday. Bank of America lowered their price objective 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. Jefferies Financial Group raised their price target on shares of Everest Group from $440.00 to $457.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Barclays cut their price objective on Everest Group from $527.00 to $517.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Everest Group has an average rating of "Moderate Buy" and a consensus target price of $435.18.

Everest Group Stock Performance

Shares of Everest Group stock traded up $4.83 on Friday, hitting $371.33. The stock had a trading volume of 355,523 shares, compared to its average volume of 349,102. The company's 50 day moving average price is $380.99 and its 200 day moving average price is $380.52. The stock has a market cap of $15.96 billion, a price-to-earnings 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 52-week low of $343.76 and a 52-week high of $417.92.

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. This represents a $8.00 annualized dividend and a yield of 2.15%. The ex-dividend date is Wednesday, November 27th. Everest Group's dividend payout ratio (DPR) 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.