Summit Global Investments Grows Holdings in Everest Group, Ltd. (NYSE:EG)

Summit Global Investments lifted its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,371 shares of the company's stock after purchasing an additional 1,686 shares during the quarter. Everest Group accounts for approximately 0.9% of Summit Global Investments' investment portfolio, making the stock its 19th largest position. Summit Global Investments owned 0.09% of Everest Group worth $14,643,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. American National Bank bought a new position in shares of Everest Group during the 2nd quarter valued at approximately $27,000. M&R Capital Management Inc. purchased a new stake in shares of Everest Group in the third quarter valued at $29,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock worth $31,000 after acquiring an additional 52 shares during the last quarter. Eastern Bank purchased a new position in shares of Everest Group during the 3rd quarter worth about $35,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company's stock valued at $44,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on EG. TD Cowen decreased their price objective on shares of Everest Group from $419.00 to $405.00 and set a "hold" rating for the company in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods dropped their price objective on Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Bank of America reduced their target price on Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. Barclays lowered their target price on shares of 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 shares of Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $438.00.

Everest Group Stock Up 1.8 %

EG stock traded up $6.61 during mid-day trading on Friday, reaching $368.66. The company had a trading volume of 212,182 shares, compared to its average volume of 347,163. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $417.92. The company has a market capitalization of $15.85 billion, a price-to-earnings ratio of 5.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.40. The firm has a fifty day simple moving average of $383.56 and a 200 day simple moving average of $380.46.

Insider Buying and Selling

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of Everest Group stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the acquisition, the director now owns 32,822 shares of the company's stock, valued at $11,443,062.08. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the firm's stock in a transaction on Monday, November 4th. The stock was bought at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the purchase, the director now directly owns 32,822 shares of the company's stock, valued at $11,443,062.08. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

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.