Everest Group, Ltd. (NYSE:EG) Shares Sold by abrdn plc

abrdn plc trimmed its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 17.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,355 shares of the company's stock after selling 4,897 shares during the quarter. abrdn plc owned about 0.05% of Everest Group worth $9,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners increased its holdings in shares of Everest Group by 29.1% in the 1st quarter. Boston Partners now owns 1,197,457 shares of the company's stock valued at $475,750,000 after acquiring an additional 269,665 shares during the period. AQR Capital Management LLC boosted its stake in shares of Everest Group by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company's stock worth $393,395,000 after buying an additional 17,885 shares during the period. Champlain Investment Partners LLC boosted its stake in shares of Everest Group by 5.3% during the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company's stock worth $360,175,000 after buying an additional 45,705 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company's stock worth $221,057,000 after buying an additional 134,517 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company's stock worth $203,891,000 after buying an additional 38,254 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

Everest Group stock traded down $4.64 during mid-day trading on Friday, reaching $350.97. The company had a trading volume of 552,538 shares, compared to its average volume of 497,039. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $417.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $15.11 billion, a P/E ratio of 5.49, a P/E/G ratio of 2.50 and a beta of 0.63. The stock's 50-day simple moving average is $386.10 and its 200-day simple moving average is $380.72.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results 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 net margin of 16.99% and a return on equity of 22.45%. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.32 billion. During the same period last year, the business posted $15.21 earnings per share. The company's quarterly revenue was up 15.8% on a year-over-year basis. On average, equities analysts predict that Everest Group, Ltd. will post 60.97 EPS for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a dividend of $2.00 per share. 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 2.28%. Everest Group's dividend payout ratio (DPR) is 12.52%.

Analyst Ratings Changes

EG has been the subject of several recent research reports. BMO Capital Markets reiterated a "market perform" rating and set a $403.00 target price on shares of Everest Group in a research note on Friday, August 30th. Morgan Stanley decreased their target price on shares of Everest Group from $450.00 to $445.00 and set an "overweight" rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company increased their price target on shares of Everest Group from $393.00 to $406.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Bank of America cut their price target 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, Jefferies Financial Group increased their price target on shares of Everest Group from $440.00 to $457.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $438.36.

About Everest Group

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.