AGF Management Ltd. cut its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,590 shares of the company's stock after selling 1,392 shares during the period. AGF Management Ltd.'s holdings in Everest Group were worth $2,389,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company's stock worth $8,225,000 after purchasing an additional 13,687 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Everest Group by 19.5% in 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 bought a new position in shares of Everest Group in the third quarter worth approximately $749,000. Intech Investment Management LLC increased its position in shares of Everest Group by 13.1% in the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company's stock worth $10,706,000 after purchasing an additional 3,166 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Everest Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company's stock worth $21,117,000 after purchasing an additional 2,818 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.
Everest Group Trading Up 2.8 %
Shares of Everest Group stock traded up $9.76 during midday trading on Friday, reaching $359.35. 353,264 shares of the company's stock traded hands, compared to its average volume of 349,119. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $15.43 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The stock has a 50 day moving average of $351.67 and a 200-day moving average of $368.79. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30.
Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) EPS 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%. As a group, equities analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.
Everest Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a $2.00 dividend. The ex-dividend date is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.23%. Everest Group's dividend payout ratio (DPR) is 25.47%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Wells Fargo & Company cut their target price on Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods upped their target price on Everest Group from $420.00 to $434.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Finally, TD Cowen cut their target price on Everest Group from $444.00 to $419.00 and set a "hold" rating for the company in a research note on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $416.50.
Check Out Our Latest Research Report on EG
Everest Group Company Profile
(
Free Report)
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.
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