Advisors Asset Management Inc. Cuts Position in Everest Group, Ltd. (NYSE:EG)

Advisors Asset Management Inc. decreased its position in Everest Group, Ltd. (NYSE:EG) by 30.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,180 shares of the company’s stock after selling 506 shares during the quarter. Advisors Asset Management Inc.’s holdings in Everest Group were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EG. Price T Rowe Associates Inc. MD raised its position in Everest Group by 14.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 78,277 shares of the company’s stock valued at $31,116,000 after purchasing an additional 9,714 shares during the period. Tidal Investments LLC raised its position in Everest Group by 9.4% in the first quarter. Tidal Investments LLC now owns 3,991 shares of the company’s stock valued at $1,584,000 after purchasing an additional 342 shares during the period. iA Global Asset Management Inc. increased its position in shares of Everest Group by 476.5% during the first quarter. iA Global Asset Management Inc. now owns 3,926 shares of the company’s stock worth $1,561,000 after acquiring an additional 3,245 shares during the period. Swedbank AB purchased a new stake in shares of Everest Group during the first quarter worth $15,074,000. Finally, Cetera Investment Advisers increased its position in shares of Everest Group by 39.3% during the first quarter. Cetera Investment Advisers now owns 4,879 shares of the company’s stock worth $1,940,000 after acquiring an additional 1,377 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William F. Galtney, Jr. bought 2,870 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $348.64 per share, with a total value of $1,000,596.80. Following 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 insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BMO Capital Markets cut their price objective on Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Barclays cut their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Keefe, Bruyette & Woods cut their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company cut their price objective on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $431.30.

Everest Group Stock Performance

Shares of EG stock opened at $388.78 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.04. The company has a market cap of $16.71 billion, a P/E ratio of 6.08, a PEG ratio of 2.89 and a beta of 0.63. The firm has a fifty day moving average price of $380.79 and a 200 day moving average price of $380.90.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $2.00 dividend. 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 is presently 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.