Edgestream Partners L.P. Sells 3,382 Shares of Everest Group, Ltd. (NYSE:EG)

Edgestream Partners L.P. reduced its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 64.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,869 shares of the company's stock after selling 3,382 shares during the quarter. Edgestream Partners L.P.'s holdings in Everest Group were worth $732,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. Cetera Investment Advisers grew its stake in Everest Group by 39.3% in the first quarter. Cetera Investment Advisers now owns 4,879 shares of the company's stock valued at $1,940,000 after purchasing an additional 1,377 shares in the last quarter. Cetera Advisors LLC acquired a new position in Everest Group in the first quarter worth approximately $340,000. Csenge Advisory Group raised its position in Everest Group by 2.2% during the second quarter. Csenge Advisory Group now owns 1,239 shares of the company's stock valued at $472,000 after acquiring an additional 27 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Everest Group in the second quarter valued at approximately $5,356,000. Finally, QRG Capital Management Inc. grew its position in Everest Group by 4.4% in the second quarter. QRG Capital Management Inc. now owns 38,029 shares of the company's stock worth $14,490,000 after acquiring an additional 1,618 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of Everest Group from $454.00 to $438.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Barclays reduced their price target on Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. TD Cowen decreased their price target 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. Jefferies Financial Group lowered Everest Group from a "buy" rating to a "hold" rating and boosted their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their price target on shares of Everest Group from $402.00 to $390.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Everest Group has a consensus rating of "Hold" and an average target price of $430.10.

Insider Activity

In other Everest Group news, Director William F. Galtney, Jr. purchased 2,870 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the acquisition, the director now directly owns 32,822 shares of the company's stock, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, COO James Allan Williamson sold 200 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % 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 Performance

Everest Group stock traded down $5.28 during mid-day trading on Friday, reaching $369.43. The company had a trading volume of 74,331 shares, compared to its average volume of 355,816. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market cap of $15.88 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 2.85 and a beta of 0.64. The company has a 50 day moving average of $380.44 and a 200-day moving average of $380.97.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group's dividend payout ratio is presently 12.52%.

About Everest Group

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.