Everest Group, Ltd. (NYSE:EG) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,752 shares of the company’s stock after buying an additional 8,345 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Everest Group worth $45,747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in EG. Csenge Advisory Group grew its position in shares of Everest Group by 2.2% in the 2nd quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock worth $472,000 after acquiring an additional 27 shares in the last quarter. Legend Financial Advisors Inc. increased its stake in Everest Group by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock valued at $672,000 after purchasing an additional 27 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company’s stock worth $238,000 after purchasing an additional 29 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after buying an additional 31 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Everest Group by 4.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 745 shares of the company’s stock valued at $284,000 after buying an additional 33 shares during the period. Institutional investors own 92.64% of the company’s stock.

Insider Activity at Everest Group

In related news, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EG. BMO Capital Markets dropped their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research note on Thursday. Jefferies Financial Group increased their price target on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America reduced their price objective 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. TD Cowen dropped their target price on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company cut their target price on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.18.

Everest Group Stock Performance

EG stock opened at $371.39 on Friday. The company has a 50-day simple moving average of $380.99 and a 200 day simple moving average of $380.52. The company has a market capitalization of $15.96 billion, a P/E ratio of 5.81, a PEG ratio of 2.66 and a beta of 0.63. 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 fifty-two week low of $343.76 and a fifty-two week high of $417.92.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

About Everest Group

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.