Massachusetts Financial Services Co. MA Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

Massachusetts Financial Services Co. MA raised its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 496,562 shares of the company's stock after acquiring an additional 5,871 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.16% of Everest Group worth $179,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after purchasing an additional 43,793 shares in the last quarter. Norges Bank bought a new stake in shares of Everest Group in the 4th quarter worth about $488,588,000. Franklin Resources Inc. raised its position in Everest Group by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after purchasing an additional 4,544 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Everest Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock worth $424,344,000 after purchasing an additional 8,321 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Everest Group by 10.5% during the fourth quarter. William Blair Investment Management LLC now owns 642,813 shares of the company's stock worth $232,994,000 after buying an additional 61,026 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

EG has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. 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 report on Wednesday. Morgan Stanley reiterated an "equal weight" rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. UBS Group cut their price target on Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Everest Group currently has a consensus rating of "Hold" and an average price target of $408.00.

Everest Group Stock Performance

NYSE:EG traded up $16.27 during mid-day trading on Wednesday, hitting $348.31. The company's stock had a trading volume of 387,394 shares, compared to its average volume of 370,148. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.24 and a beta of 0.43. The business's fifty day moving average is $348.75 and its two-hundred day moving average is $363.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. 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 released its quarterly earnings results 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 net margin of 7.95% and a return on equity of 9.04%. Analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.30%. The ex-dividend date was Monday, March 17th. Everest Group's payout ratio is presently 25.47%.

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.