Massachusetts Financial Services Co. MA Has $192.27 Million Stake in Everest Group, Ltd. (NYSE:EG)

Massachusetts Financial Services Co. MA raised its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,691 shares of the company's stock after acquiring an additional 30,458 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.14% of Everest Group worth $192,267,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. American National Bank bought a new position in Everest Group during the second quarter valued at about $27,000. M&R Capital Management Inc. bought a new stake in Everest Group during the 3rd quarter worth about $29,000. Bruce G. Allen Investments LLC lifted its holdings in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank bought a new position in shares of Everest Group in the 3rd quarter worth $35,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company's stock worth $44,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Trading Up 1.0 %

Everest Group stock traded up $3.85 during mid-day trading on Friday, hitting $389.00. The company's stock had a trading volume of 519,602 shares, compared to its average volume of 421,285. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $417.92. The company has a 50 day moving average of $380.64 and a 200-day moving average of $380.71. The stock has a market cap of $16.72 billion, a PE ratio of 6.09, a P/E/G ratio of 2.84 and a beta of 0.63. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.06%. Everest Group's payout ratio is 12.52%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America cut their price objective on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets cut their price target on shares of Everest Group from $383.00 to $372.00 and set a "market perform" rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company reduced their target price on Everest Group from $406.00 to $402.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. Jefferies Financial Group increased their price target on shares of Everest Group from $440.00 to $457.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Barclays lowered their price target on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $434.10.

Insiders Place Their Bets

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares of the company's stock, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the acquisition, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. The trade was a 9.58 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.