Loomis Sayles & Co. L P Cuts Stake in Everest Group, Ltd. (NYSE:EG)

Loomis Sayles & Co. L P cut its holdings in Everest Group, Ltd. (NYSE:EG) by 40.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127 shares of the company’s stock after selling 88 shares during the period. Loomis Sayles & Co. L P’s holdings in Everest Group were worth $50,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EG. American National Bank purchased a new position in shares of Everest Group during the second quarter valued at about $27,000. M&R Capital Management Inc. bought a new position in Everest Group during the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC increased its stake in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 52 shares during the last quarter. Eastern Bank bought a new stake in Everest Group in the 3rd quarter worth approximately $35,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after acquiring an additional 31 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

Shares of Everest Group stock opened at $389.00 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $380.79 and its two-hundred day moving average is $380.95. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.04. The company has a market capitalization of $16.72 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 2.89 and a beta of 0.63.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio is presently 12.52%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EG shares. TD Cowen reduced their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Keefe, Bruyette & Woods decreased their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America dropped their price target 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. UBS Group upgraded Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets dropped their target price on Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a report on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus target price of $431.30.

Insider Activity at Everest Group

In other news, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $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. 1.20% of the stock is currently owned by company insiders.

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.