Hartford Investment Management Co. Cuts Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Hartford Investment Management Co. cut its stake in shares of Everest Group, Ltd. (NYSE:EG) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,489 shares of the company’s stock after selling 72 shares during the period. Hartford Investment Management Co.’s holdings in Everest Group were worth $1,367,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EG. SG Americas Securities LLC raised its stake in shares of Everest Group by 284.8% in the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock valued at $9,622,000 after acquiring an additional 18,175 shares during the period. Diversified Trust Co acquired a new stake in Everest Group in the 1st quarter valued at $1,621,000. Wealth Enhancement Advisory Services LLC raised its position in Everest Group by 163.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock valued at $1,897,000 after purchasing an additional 2,964 shares during the period. Whittier Trust Co. acquired a new position in shares of Everest Group during the first quarter worth about $1,505,000. Finally, Clearbridge Investments LLC boosted its position in shares of Everest Group by 1.5% in the first quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock worth $115,052,000 after buying an additional 4,412 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EG has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets reissued a “market perform” rating and set a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Bank of America lowered their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of Everest Group from $393.00 to $406.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lowered their target price on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $439.27.

Everest Group Trading Down 2.0 %

NYSE:EG opened at $379.55 on Friday. The company has a market cap of $16.49 billion, a PE ratio of 5.64, a P/E/G ratio of 2.71 and a beta of 0.61. The business’s 50 day moving average is $387.31 and its two-hundred day moving average is $380.48. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $15.21 EPS. On average, analysts predict that Everest Group, Ltd. will post 60.97 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were issued a $2.00 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.11%. Everest Group’s dividend payout ratio is currently 11.89%.

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.