Wedge Capital Management L L P NC Grows Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Wedge Capital Management L L P NC boosted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,636 shares of the company's stock after purchasing an additional 739 shares during the quarter. Wedge Capital Management L L P NC's holdings in Everest Group were worth $3,130,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wedmont Private Capital grew its stake in Everest Group by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company's stock worth $238,000 after buying an additional 29 shares during the last quarter. Steph & Co. grew its stake in shares of Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company's stock worth $133,000 after acquiring an additional 35 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of Everest Group by 0.3% during the third quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company's stock worth $4,392,000 after acquiring an additional 38 shares during the last quarter. Covestor Ltd raised its position in shares of Everest Group by 9.0% in the 3rd quarter. Covestor Ltd now owns 520 shares of the company's stock valued at $204,000 after purchasing an additional 43 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company's stock worth $52,000 after purchasing an additional 45 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen cut their price target 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. Keefe, Bruyette & Woods upped their target price on Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Bank of America lowered their price target on Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. Jefferies Financial Group lowered Everest Group from a "buy" rating to a "hold" rating and increased their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, UBS Group raised Everest Group to a "hold" rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $435.44.

Everest Group Stock Performance

Shares of NYSE EG traded up $2.36 during midday trading on Monday, reaching $362.60. 370,655 shares of the stock were exchanged, compared to its average volume of 277,588. 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 firm has a market cap of $15.58 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 2.33 and a beta of 0.65. The firm has a 50-day simple moving average of $367.78 and a two-hundred day simple moving average of $376.39. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $407.30.

Everest Group Dividend Announcement

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

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the purchase, the director now owns 32,822 shares of the company's stock, valued at $11,443,062.08. The trade was a 9.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the business's 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 sale, the chief operating officer now directly owns 15,009 shares of the company's stock, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

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.