Charles Schwab Investment Management Inc. Trims Holdings in Everest Group, Ltd. (NYSE:EG)

Charles Schwab Investment Management Inc. reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1.0% in the third quarter, Holdings Channel reports. The firm owned 383,060 shares of the company’s stock after selling 3,691 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Everest Group were worth $150,094,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. American National Bank purchased a new stake in Everest Group in the 2nd quarter valued at about $27,000. M&R Capital Management Inc. bought a new stake in shares of Everest Group during the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Everest Group by 200.0% in the third 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 period. Eastern Bank bought a new position in Everest Group in the third quarter worth approximately $35,000. Finally, Massmutual Trust Co. FSB ADV increased 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 worth $44,000 after purchasing an additional 31 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

Shares of EG opened at $389.00 on Monday. The company has a 50 day moving average of $380.77 and a two-hundred day moving average of $380.80. 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, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92. The company has a market cap of $16.72 billion, a price-to-earnings ratio of 6.09, a price-to-earnings-growth ratio of 2.84 and a beta of 0.63.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.06%. Everest Group’s dividend payout ratio (DPR) is 12.52%.

Insider Activity at Everest Group

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $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 corporate insiders.

Wall Street Analyst Weigh In

EG has been the subject of several research reports. Jefferies Financial Group upped their target price on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets lowered their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. TD Cowen dropped their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $434.10.

Everest Group Company 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.