Synovus Financial Corp Increases Stock Position in Everest Group, Ltd. (NYSE:EG)

Synovus Financial Corp lifted its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 116.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,561 shares of the company's stock after acquiring an additional 2,453 shares during the quarter. Synovus Financial Corp's holdings in Everest Group were worth $1,787,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EG. American National Bank acquired a new position in Everest Group in the second quarter valued at about $27,000. M&R Capital Management Inc. acquired a new stake in shares of Everest Group in the 3rd quarter valued at approximately $29,000. Bruce G. Allen Investments LLC grew its holdings in shares of Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Eastern Bank bought a new position in Everest Group in the 3rd quarter valued at approximately $35,000. Finally, Brooklyn Investment Group acquired a new stake in Everest Group in the third quarter valued at approximately $39,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EG shares. UBS Group upgraded Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Bank of America reduced their price target on Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company cut their target price on shares of Everest Group from $402.00 to $390.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 4th. Barclays decreased their price target on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Finally, TD Cowen reduced their price objective on shares of Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Everest Group currently has a consensus rating of "Hold" and a consensus price target of $430.00.

Insider Activity at Everest Group

In other news, COO James Allan Williamson sold 200 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was 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 in the company, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Everest Group Trading Down 1.4 %

EG traded down $5.12 during trading on Monday, hitting $357.69. The company's stock had a trading volume of 348,617 shares, compared to its average volume of 355,854. The firm has a market capitalization of $15.37 billion, a P/E ratio of 5.60, a PEG ratio of 2.69 and a beta of 0.64. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $407.30. The stock's fifty day moving average price is $376.33 and its 200-day moving average price is $379.53. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, November 27th. Everest Group's 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.