Franklin Resources Inc. Sells 4,918 Shares of Everest Group, Ltd. (NYSE:EG)

Franklin Resources Inc. lessened its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,277,067 shares of the company's stock after selling 4,918 shares during the quarter. Franklin Resources Inc. owned approximately 2.97% of Everest Group worth $509,116,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in EG. Mizuho Securities USA LLC grew its stake in Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company's stock valued at $162,766,000 after purchasing an additional 412,040 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Everest Group in the 3rd quarter valued at approximately $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Everest Group by 442.4% in 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 worth $120,744,000 after buying an additional 251,337 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company's stock worth $221,057,000 after buying an additional 134,517 shares during the last quarter. Finally, Assetmark Inc. raised its position in Everest Group by 39.7% during the third quarter. Assetmark Inc. now owns 409,989 shares of the company's stock valued at $160,646,000 after acquiring an additional 116,559 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Transactions at Everest Group

In related news, EVP Mike Karmilowicz sold 269 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now directly owns 12,726 shares of the company's stock, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the business's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Everest Group Stock Performance

Shares of EG traded up $0.19 during mid-day trading on Friday, hitting $362.81. The company's stock had a trading volume of 288,939 shares, compared to its average volume of 355,884. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $407.30. The stock's 50-day moving average is $376.63 and its two-hundred day moving average is $379.82. The firm has a market capitalization of $15.59 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.21%. Everest Group's dividend payout ratio is 12.52%.

Analysts Set New Price Targets

Several brokerages have recently commented on EG. TD Cowen dropped their price target on shares of Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a research note on Monday, November 18th. UBS Group raised shares of Everest Group to a "hold" rating in a research report on Wednesday, October 9th. 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. Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. Finally, BMO Capital Markets reduced their target price on Everest Group from $383.00 to $372.00 and set a "market perform" rating for the company in a report on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Everest Group has an average rating of "Hold" and an average price target of $430.10.

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.