Guggenheim Capital LLC Sells 6,490 Shares of Everest Group, Ltd. (NYSE:EG)

Guggenheim Capital LLC trimmed its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 75.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,077 shares of the company's stock after selling 6,490 shares during the period. Guggenheim Capital LLC's holdings in Everest Group were worth $753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after buying an additional 43,793 shares during the period. Norges Bank purchased a new position in Everest Group during the 4th quarter valued at about $488,588,000. Franklin Resources Inc. boosted its stake in Everest Group by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock worth $464,533,000 after acquiring an additional 4,544 shares in the last quarter. Geode Capital Management LLC grew its holdings in Everest Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock worth $424,344,000 after purchasing an additional 8,321 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Everest Group by 17.2% during the fourth quarter. Invesco Ltd. now owns 855,120 shares of the company's stock valued at $309,947,000 after purchasing an additional 125,271 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

EG stock traded down $1.87 during midday trading on Friday, reaching $353.32. 256,098 shares of the company's stock traded hands, compared to its average volume of 371,396. The stock's 50-day moving average is $352.06 and its 200 day moving average is $360.78. The stock has a market cap of $16.88 billion, a P/E ratio of 11.25, a PEG ratio of 0.24 and a beta of 0.43. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate 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, analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a dividend of $2.00 per share. The ex-dividend date was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.26%. Everest Group's dividend payout ratio (DPR) is presently 25.47%.

Insider Buying and Selling at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on EG. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $376.00 to $415.00 in a report on Friday, April 11th. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Barclays reduced their target price on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Wells Fargo & Company reduced their price objective on Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, UBS Group reduced their price target on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $396.00.

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.