Commonwealth Equity Services LLC Boosts Position in Everest Group, Ltd. (NYSE:EG)

Commonwealth Equity Services LLC increased its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 25.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,055 shares of the company's stock after buying an additional 2,438 shares during the quarter. Commonwealth Equity Services LLC's holdings in Everest Group were worth $4,369,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. World Investment Advisors LLC bought a new position in shares of Everest Group during the 3rd quarter valued at approximately $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Everest Group by 442.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company's stock valued at $120,744,000 after purchasing an additional 251,337 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Everest Group in the fourth quarter worth approximately $48,290,000. Truist Financial Corp increased its stake in shares of Everest Group by 7,580.7% in the fourth quarter. Truist Financial Corp now owns 92,936 shares of the company's stock worth $33,686,000 after purchasing an additional 91,726 shares in the last quarter. Finally, FMR LLC raised its position in shares of Everest Group by 21.5% during the 3rd quarter. FMR LLC now owns 410,861 shares of the company's stock valued at $160,988,000 after purchasing an additional 72,822 shares during the period. 92.64% of the stock is currently owned by institutional investors.

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Insider Transactions at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company's stock.

Everest Group Price Performance

EG traded up $2.99 during trading hours on Tuesday, hitting $362.12. The company's stock had a trading volume of 99,916 shares, compared to its average volume of 447,125. The stock has a market cap of $15.55 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.24 and a beta of 0.61. The business's 50-day moving average price is $351.06 and its 200-day moving average price is $366.88. 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, 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 posted its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts' consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Sell-side analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Monday, March 17th. Everest Group's payout ratio is 25.47%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut their price target 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. Barclays increased their target price on Everest Group from $461.00 to $470.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. BMO Capital Markets cut Everest Group from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley reaffirmed an "equal weight" rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Jefferies Financial Group cut shares of Everest Group from a "buy" rating to a "hold" rating and lifted their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $416.50.

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.