Envestnet Asset Management Inc. Has $55.80 Million Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Envestnet Asset Management Inc. grew its stake in shares of Everest Group, Ltd. (NYSE:EG) by 352.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 153,938 shares of the company’s stock after purchasing an additional 119,944 shares during the period. Envestnet Asset Management Inc.’s holdings in Everest Group were worth $55,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of EG. Vanguard Group Inc. boosted its stake in Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company’s stock valued at $2,015,288,000 after buying an additional 43,793 shares during the period. Norges Bank purchased a new position in Everest Group during the 4th quarter valued at about $488,588,000. Franklin Resources Inc. boosted its position in Everest Group by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company’s stock valued at $464,533,000 after acquiring an additional 4,544 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Everest Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company’s stock worth $424,344,000 after purchasing an additional 8,321 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Everest Group by 10.5% in the 4th quarter. William Blair Investment Management LLC now owns 642,813 shares of the company’s stock worth $232,994,000 after purchasing an additional 61,026 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction 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 directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Everest Group Stock Up 4.9 %

Shares of NYSE:EG opened at $348.31 on Thursday. The business has a 50 day simple moving average of $348.75 and a two-hundred day simple moving average of $363.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. The firm has a market capitalization of $16.64 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s payout ratio is presently 25.47%.

Analyst Ratings Changes

Several research firms recently issued reports on EG. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays raised their price target 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 set a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Wells Fargo & Company cut their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods dropped their price target on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $408.00.

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.