Everest Group, Ltd. (NYSE:EG) Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Everest Group, Ltd. (NYSE:EG) by 7.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,309 shares of the company’s stock after purchasing an additional 460 shares during the period. CIBC Asset Management Inc’s holdings in Everest Group were worth $2,472,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EG. American National Bank bought a new stake in Everest Group in the second quarter valued at about $27,000. M&R Capital Management Inc. bought a new stake in shares of Everest Group in the 3rd quarter valued at approximately $29,000. Bruce G. Allen Investments LLC increased its holdings in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Eastern Bank acquired a new stake in shares of Everest Group during the 3rd quarter valued at approximately $35,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Everest Group by 36.9% during the second 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 last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Buying and Selling

In other news, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction on Monday, November 4th. The stock was purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, 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 acquisition 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 stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Everest Group Stock Down 0.7 %

EG opened at $370.59 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The stock’s 50 day moving average price is $380.51 and its 200 day moving average price is $380.71. The stock has a market cap of $15.93 billion, a P/E ratio of 5.80, a P/E/G ratio of 2.66 and a beta of 0.63.

Everest Group Dividend Announcement

The business also recently disclosed 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Wednesday, November 27th. Everest Group’s dividend payout ratio is currently 12.52%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TD Cowen lowered their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday. Bank of America dropped their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company lowered their target price on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Finally, Jefferies Financial Group raised their price target on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.45.

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.