Point72 Hong Kong Ltd Takes Position in Everest Group, Ltd. (NYSE:EG)

Point72 Hong Kong Ltd bought a new position in Everest Group, Ltd. (NYSE:EG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,673 shares of the company's stock, valued at approximately $3,006,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Erste Asset Management GmbH bought a new stake in Everest Group during the 3rd quarter valued at approximately $435,000. Verition Fund Management LLC increased its position in shares of Everest Group by 43.7% during the 3rd quarter. Verition Fund Management LLC now owns 3,558 shares of the company's stock valued at $1,394,000 after purchasing an additional 1,082 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Everest Group by 4.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 35,582 shares of the company's stock valued at $13,942,000 after purchasing an additional 1,642 shares during the last quarter. Vinva Investment Management Ltd purchased a new position in Everest Group during the 3rd quarter valued at $4,294,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Everest Group by 442.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company's stock valued at $120,744,000 after acquiring an additional 251,337 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets dropped their price objective on Everest Group from $383.00 to $372.00 and set a "market perform" rating for the company in a report on Thursday, November 14th. Wells Fargo & Company decreased their price objective 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. TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a "hold" rating for the company in a research note on Monday, November 18th. Barclays decreased their price objective on Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Finally, UBS Group upgraded Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $431.30.

Everest Group Stock Performance

Shares of EG stock traded down $1.55 during mid-day trading on Monday, reaching $386.01. The stock had a trading volume of 109,302 shares, compared to its average volume of 354,758. The business's fifty day moving average is $380.80 and its 200-day moving average is $381.11. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market cap of $16.59 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 2.87 and a beta of 0.63. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $408.71.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, November 27th. Everest Group's dividend payout ratio is presently 12.52%.

Insider Activity

In related news, Director William F. Galtney, Jr. bought 2,870 shares of the stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares of the company's stock, valued at $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James Allan Williamson sold 200 shares of the company's stock in a transaction dated 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 in the company, valued at $5,553,330. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

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.