HighTower Advisors LLC Sells 1,465 Shares of Everest Group, Ltd. (NYSE:EG)

HighTower Advisors LLC trimmed its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 38.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,349 shares of the company's stock after selling 1,465 shares during the period. HighTower Advisors LLC's holdings in Everest Group were worth $923,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EG. Mizuho Securities USA LLC lifted its position in Everest Group by 12,263.1% during 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Everest Group by 442.4% during the 3rd 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 acquiring an additional 251,337 shares during the last quarter. William Blair Investment Management LLC grew its position 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 acquiring an additional 134,517 shares in the last quarter. Assetmark Inc. grew its position in Everest Group by 39.7% in the third quarter. Assetmark Inc. now owns 409,989 shares of the company's stock worth $160,646,000 after acquiring an additional 116,559 shares in the last quarter. Finally, FMR LLC increased its stake in Everest Group by 21.5% in the third quarter. FMR LLC now owns 410,861 shares of the company's stock valued at $160,988,000 after acquiring an additional 72,822 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Trading Down 1.9 %

EG traded down $6.73 during trading on Wednesday, hitting $348.33. 505,111 shares of the stock traded hands, compared to its average volume of 356,564. The firm has a market capitalization of $14.97 billion, a P/E ratio of 5.45, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $407.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a 50-day moving average of $375.96 and a 200 day moving average of $379.27.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. Everest Group's payout ratio is presently 12.52%.

Analyst Upgrades and Downgrades

EG has been the subject of a number of research reports. Jefferies Financial Group cut Everest Group from a "buy" rating to a "hold" rating and upped their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Wells Fargo & Company cut their target price on Everest Group from $402.00 to $390.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 4th. BMO Capital Markets decreased their price target on shares of Everest Group from $383.00 to $372.00 and set a "market perform" rating on the stock in a research note on Thursday, November 14th. Bank of America lowered their price objective on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a report on Thursday, October 10th. Finally, TD Cowen reduced their target price on shares of Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Everest Group currently has an average rating of "Hold" and an average target price of $430.00.

Insider Activity at Everest Group

In other Everest Group news, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company's stock, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

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.