Fmr LLC Acquires 72,822 Shares of Everest Group, Ltd. (NYSE:EG)

FMR LLC raised its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 21.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,861 shares of the company's stock after acquiring an additional 72,822 shares during the quarter. FMR LLC owned approximately 0.96% of Everest Group worth $160,988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EG. The Manufacturers Life Insurance Company raised its holdings in Everest Group by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 32,133 shares of the company's stock valued at $12,591,000 after buying an additional 969 shares during the last quarter. Bank of Montreal Can raised its holdings in Everest Group by 41.8% in the 3rd quarter. Bank of Montreal Can now owns 199,361 shares of the company's stock valued at $78,776,000 after buying an additional 58,787 shares during the last quarter. Private Trust Co. NA raised its holdings in Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company's stock valued at $52,000 after buying an additional 45 shares during the last quarter. Independent Advisor Alliance bought a new position in Everest Group in the 3rd quarter valued at approximately $510,000. Finally, Daiwa Securities Group Inc. raised its holdings in Everest Group by 13.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,392 shares of the company's stock valued at $2,113,000 after buying an additional 648 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Everest Group Stock Down 1.7 %

NYSE:EG traded down $6.47 during trading hours on Wednesday, hitting $378.74. 340,822 shares of the company traded hands, compared to its average volume of 356,842. 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's 50-day simple moving average is $380.79 and its 200-day simple moving average is $381.03. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $407.30. The company has a market cap of $16.28 billion, a PE ratio of 6.03, a PEG ratio of 2.84 and a beta of 0.64.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, November 27th. Everest Group's dividend payout ratio (DPR) is presently 12.52%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group raised shares of Everest Group to a "hold" rating in a research report on Wednesday, October 9th. TD Cowen decreased their target price on shares of Everest Group from $444.00 to $419.00 and set a "hold" rating for the company in a research report on Monday, November 18th. Jefferies Financial Group downgraded shares of Everest Group from a "buy" rating to a "hold" rating and increased their target price for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods decreased their target price on shares of Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Finally, Bank of America decreased their target price on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Everest Group has an average rating of "Hold" and an average price target of $431.30.

Insider Buying and Selling at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company's stock.

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.