Sit Investment Associates Inc. Decreases Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Sit Investment Associates Inc. lessened its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 77.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 947 shares of the company's stock after selling 3,225 shares during the quarter. Sit Investment Associates Inc.'s holdings in Everest Group were worth $343,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dakota Wealth Management raised its stake in shares of Everest Group by 1.7% during the 4th quarter. Dakota Wealth Management now owns 1,945 shares of the company's stock valued at $705,000 after purchasing an additional 32 shares during the period. Wilmington Savings Fund Society FSB increased its position in shares of Everest Group by 19.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock valued at $71,000 after buying an additional 32 shares during the period. Steph & Co. lifted its holdings in shares of Everest Group by 10.6% in the fourth quarter. Steph & Co. now owns 366 shares of the company's stock worth $133,000 after buying an additional 35 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in shares of Everest Group by 2.7% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company's stock worth $481,000 after buying an additional 35 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its position in shares of Everest Group by 5.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 661 shares of the company's stock valued at $239,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

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Everest Group Price Performance

Shares of EG traded up $8.39 during midday trading on Friday, reaching $349.79. The stock had a trading volume of 383,665 shares, compared to its average volume of 370,600. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company's 50-day moving average is $348.82 and its 200 day moving average is $363.47.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts' consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. On average, equities analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Monday, March 17th. Everest Group's dividend payout ratio is currently 25.47%.

Insiders Place Their Bets

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on EG. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $376.00 to $415.00 in a research note on Friday. UBS Group lowered their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods reduced their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday. BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Finally, Wells Fargo & Company dropped their price target on Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $396.00.

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.