OVERSEA CHINESE BANKING Corp Ltd Has $271,000 Stake in Everest Group, Ltd. (NYSE:EG)

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 64.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 749 shares of the company's stock after selling 1,338 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Everest Group were worth $271,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans boosted its position in Everest Group by 27.8% during the third quarter. Thrivent Financial for Lutherans now owns 29,559 shares of the company's stock worth $11,582,000 after purchasing an additional 6,430 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Everest Group by 7.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company's stock worth $2,074,000 after buying an additional 346 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Everest Group by 2.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 149,362 shares of the company's stock worth $58,525,000 after buying an additional 3,866 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Everest Group by 13.1% during the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company's stock worth $10,706,000 after buying an additional 3,166 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Everest Group by 6.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company's stock valued at $192,267,000 after buying an additional 30,458 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Remove Ads

Everest Group Stock Performance

Shares of EG traded up $2.92 on Tuesday, reaching $362.05. 300,572 shares of the stock traded hands, compared to its average volume of 351,029. The stock's 50-day moving average price is $351.06 and its 200-day moving average price is $366.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (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%. Equities analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Monday, March 17th. Everest Group's dividend payout ratio is 25.47%.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the 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 directly owns 12,279 shares in the company, valued at $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

EG has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of 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. Barclays increased their target price on Everest Group from $461.00 to $470.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target on Everest Group from $420.00 to $434.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $416.50.

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.