Summit Global Investments Cuts Position in Everest Group, Ltd. (NYSE:EG)

Summit Global Investments reduced its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 54.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,166 shares of the company's stock after selling 20,205 shares during the quarter. Summit Global Investments' holdings in Everest Group were worth $6,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in Everest Group by 27.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,559 shares of the company's stock valued at $11,582,000 after acquiring an additional 6,430 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings 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 valued at $2,074,000 after purchasing an additional 346 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Everest Group by 2.7% during the third 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 in the last quarter. Intech Investment Management LLC boosted its stake in Everest Group by 13.1% during the third 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 last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

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Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the company's 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 sale, the director now owns 12,279 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

EG has been the topic of several analyst reports. Wells Fargo & Company reduced their price target on Everest Group from $390.00 to $380.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. Barclays boosted their target price on shares of Everest Group from $461.00 to $470.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Morgan Stanley restated an "equal weight" rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Jefferies Financial Group lowered Everest Group from a "buy" rating to a "hold" rating and increased their price objective for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $416.50.

Everest Group Trading Up 1.0 %

Everest Group stock traded up $3.79 during trading on Wednesday, hitting $366.04. The company had a trading volume of 206,720 shares, compared to its average volume of 350,578. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. 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 1-year low of $327.37 and a 1-year high of $407.30. The company's 50 day simple moving average is $351.13 and its 200-day simple moving average is $366.73.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share 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%. As a group, analysts expect 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.19%. Everest Group's dividend payout ratio (DPR) is presently 25.47%.

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.