Vinva Investment Management Ltd Trims Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Vinva Investment Management Ltd cut its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 90.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,069 shares of the company's stock after selling 9,797 shares during the period. Vinva Investment Management Ltd's holdings in Everest Group were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. World Investment Advisors LLC purchased a new stake in Everest Group during the third quarter worth $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Everest Group by 442.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company's stock worth $120,744,000 after acquiring an additional 251,337 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Everest Group during the 4th quarter worth about $48,290,000. Truist Financial Corp grew its position in shares of Everest Group by 7,580.7% during the 4th quarter. Truist Financial Corp now owns 92,936 shares of the company's stock valued at $33,686,000 after acquiring an additional 91,726 shares during the period. Finally, FMR LLC increased its stake in shares of Everest Group by 21.5% in the 3rd quarter. FMR LLC now owns 410,861 shares of the company's stock valued at $160,988,000 after purchasing an additional 72,822 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Everest Group Price Performance

Shares of NYSE:EG traded up $3.79 during midday trading on Wednesday, hitting $366.04. The company's stock had a trading volume of 206,720 shares, compared to its average volume of 446,465. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. The company has a market cap of $15.72 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The business'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 earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Monday, March 17th. Everest Group's payout ratio is currently 25.47%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays raised their price objective on Everest Group from $461.00 to $470.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Morgan Stanley reissued an "equal weight" rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Jefferies Financial Group cut shares of Everest Group from a "buy" rating to a "hold" rating and upped their price objective for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Everest Group presently has an average rating of "Hold" and an average price target of $416.50.

Insiders Place Their Bets

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The shares were 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. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

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.