State Street Corp Sells 15,555 Shares of Everest Group, Ltd. (NYSE:EG)

State Street Corp reduced its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 0.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,916,390 shares of the company's stock after selling 15,555 shares during the period. State Street Corp owned approximately 4.46% of Everest Group worth $750,899,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. American National Bank bought a new stake in Everest Group in the second quarter worth $27,000. M&R Capital Management Inc. bought a new stake in Everest Group in the third quarter worth $29,000. Bruce G. Allen Investments LLC increased its position in shares of Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock valued at $31,000 after acquiring an additional 52 shares during the period. Eastern Bank purchased a new position in shares of Everest Group in the third quarter valued at about $35,000. Finally, Brooklyn Investment Group purchased a new position in shares of Everest Group in the third quarter valued at about $39,000. 92.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America decreased their price objective on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. UBS Group upgraded shares of Everest Group to a "hold" rating in a research report on Wednesday, October 9th. Jefferies Financial Group cut shares of Everest Group from a "buy" rating to a "hold" rating and boosted their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. BMO Capital Markets decreased their price objective on shares of Everest Group from $383.00 to $372.00 and set a "market perform" rating on the stock in a research report on Thursday, November 14th. Finally, TD Cowen decreased their price objective on shares of Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $430.10.

Insiders Place Their Bets

In other Everest Group news, COO James Allan Williamson sold 200 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mike Karmilowicz sold 269 shares of the company's stock in a transaction dated 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 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 disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

Everest Group Stock Down 0.9 %

EG traded down $3.34 during midday trading on Monday, reaching $368.06. The company's stock had a trading volume of 364,160 shares, compared to its average volume of 356,656. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.75 and a beta of 0.64. 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 1 year low of $343.76 and a 1 year high of $407.30. The stock's 50-day moving average is $379.97 and its 200-day moving average is $380.62.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.17%. 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.