SPX Gestao de Recursos Ltda Purchases Shares of 17,828 Everest Group, Ltd. (NYSE:EG)

SPX Gestao de Recursos Ltda bought a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,828 shares of the company's stock, valued at approximately $6,986,000. Everest Group accounts for about 0.9% of SPX Gestao de Recursos Ltda's holdings, making the stock its 24th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new position in shares of Everest Group in the 1st quarter valued at about $340,000. Envestnet Portfolio Solutions Inc. raised its holdings in Everest Group by 15.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 754 shares of the company's stock worth $287,000 after purchasing an additional 103 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Everest Group by 1.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 8,053 shares of the company's stock worth $3,068,000 after buying an additional 121 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Everest Group by 92.9% during the 2nd quarter. Blue Trust Inc. now owns 162 shares of the company's stock worth $64,000 after buying an additional 78 shares during the last quarter. Finally, Vista Investment Partners LLC boosted its holdings in shares of Everest Group by 1.7% in the 2nd quarter. Vista Investment Partners LLC now owns 7,733 shares of the company's stock valued at $2,946,000 after buying an additional 126 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Activity at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the business's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares of the company's stock, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the company's stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now owns 32,822 shares of the company's stock, valued at $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of research reports. Bank of America reduced their price target on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. TD Cowen reduced their target price on Everest Group from $444.00 to $419.00 and set a "hold" rating for the company in a report on Monday, November 18th. Jefferies Financial Group downgraded Everest Group from a "buy" rating to a "hold" rating and raised their price target for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Barclays reduced 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 raised Everest Group to a "hold" rating in a report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $430.10.

Everest Group Stock Performance

NYSE:EG traded up $0.19 during midday trading on Friday, reaching $362.81. The stock had a trading volume of 288,939 shares, compared to its average volume of 355,884. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $15.59 billion, a P/E ratio of 5.68, a P/E/G ratio of 2.68 and a beta of 0.64. The firm has a fifty day simple moving average of $376.63 and a two-hundred day simple moving average of $379.82. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $407.30.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.21%. Everest Group's dividend payout ratio is currently 12.52%.

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.