Legal & General Group Plc Lowers Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Legal & General Group Plc reduced its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,568 shares of the company's stock after selling 81,060 shares during the quarter. Legal & General Group Plc owned about 0.77% of Everest Group worth $119,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Invesco Ltd. raised its position in shares of Everest Group by 17.2% during the 4th quarter. Invesco Ltd. now owns 855,120 shares of the company's stock valued at $309,947,000 after buying an additional 125,271 shares in the last quarter. Cerity Partners LLC raised its position in Everest Group by 9.2% during the fourth quarter. Cerity Partners LLC now owns 27,800 shares of the company's stock valued at $10,110,000 after purchasing an additional 2,331 shares in the last quarter. Prospector Partners LLC lifted its stake in Everest Group by 31.1% during the fourth quarter. Prospector Partners LLC now owns 57,031 shares of the company's stock worth $20,671,000 after purchasing an additional 13,530 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Everest Group by 33.4% in the 4th quarter. Russell Investments Group Ltd. now owns 39,636 shares of the company's stock worth $14,363,000 after purchasing an additional 9,915 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Everest Group by 352.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 153,938 shares of the company's stock valued at $55,796,000 after purchasing an additional 119,944 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares of the company's stock, valued at approximately $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

EG has been the subject of several research reports. BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and increased their target price for the company from $376.00 to $415.00 in a report on Friday, April 11th. Wells Fargo & Company lowered their price target on shares of Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. 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 research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lowered their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $396.00.

Everest Group Trading Up 1.3 %

Shares of EG traded up $4.44 during mid-day trading on Wednesday, hitting $354.29. 58,518 shares of the company's stock traded hands, compared to its average volume of 424,714. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $16.93 billion, a P/E ratio of 11.28, a PEG ratio of 0.24 and a beta of 0.43. The business's 50-day moving average price is $349.36 and its 200-day moving average price is $362.91. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.26%. Everest Group's dividend payout ratio (DPR) is presently 25.47%.

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.