Allspring Global Investments Holdings LLC Sells 45,144 Shares of Everest Group, Ltd. (NYSE:EG)

Allspring Global Investments Holdings LLC cut its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 64.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,417 shares of the company's stock after selling 45,144 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.06% of Everest Group worth $9,567,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vest Financial LLC boosted its holdings in shares of Everest Group by 43.9% during the 3rd quarter. Vest Financial LLC now owns 4,188 shares of the company's stock valued at $1,641,000 after acquiring an additional 1,278 shares during the last quarter. Raymond James & Associates lifted its position in Everest Group by 29.6% during the third quarter. Raymond James & Associates now owns 31,966 shares of the company's stock valued at $12,525,000 after purchasing an additional 7,306 shares during the period. Blue Trust Inc. boosted its holdings in Everest Group by 179.0% in the third quarter. Blue Trust Inc. now owns 452 shares of the company's stock worth $172,000 after purchasing an additional 290 shares during the last quarter. V Square Quantitative Management LLC grew its position in Everest Group by 8.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 767 shares of the company's stock worth $301,000 after purchasing an additional 58 shares during the period. Finally, Vista Investment Partners LLC raised its stake in Everest Group by 1.1% during the 3rd quarter. Vista Investment Partners LLC now owns 7,819 shares of the company's stock valued at $3,064,000 after buying an additional 86 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Price Performance

EG stock traded down $7.49 during mid-day trading on Friday, hitting $379.61. The company had a trading volume of 347,641 shares, compared to its average volume of 342,236. The company has a 50-day moving average price of $387.31 and a 200 day moving average price of $380.60. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $417.92. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 5.64, a P/E/G ratio of 2.71 and a beta of 0.61. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the firm earned $15.21 EPS. The business's revenue was up 15.8% compared to the same quarter last year. On average, research analysts anticipate that Everest Group, Ltd. will post 60.97 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.11%. Everest Group's payout ratio is currently 11.89%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EG. BMO Capital Markets restated a "market perform" rating and issued a $403.00 price target on shares of Everest Group in a research note on Friday, August 30th. Wells Fargo & Company raised their target price on Everest Group from $393.00 to $406.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Morgan Stanley cut their price target on Everest Group from $450.00 to $445.00 and set an "overweight" rating for the company in a report on Wednesday, July 10th. Bank of America decreased their price objective on Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. Finally, Barclays started coverage on Everest Group in a research note on Wednesday, September 4th. They set an "overweight" rating and a $527.00 price objective for the company. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Everest Group currently has an average rating of "Moderate Buy" and a consensus target price of $439.27.

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.