Nisa Investment Advisors LLC Has $4.78 Million Position in Everest Group, Ltd. (NYSE:EG)

Nisa Investment Advisors LLC reduced its stake in Everest Group, Ltd. (NYSE:EG) by 8.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,151 shares of the company’s stock after selling 1,160 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Everest Group were worth $4,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Atria Investments Inc acquired a new position in shares of Everest Group during the fourth quarter worth approximately $581,000. Proficio Capital Partners LLC acquired a new position in shares of Everest Group during the fourth quarter worth approximately $10,247,000. Daiwa Securities Group Inc. lifted its holdings in shares of Everest Group by 5.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,704 shares of the company’s stock worth $2,067,000 after buying an additional 312 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Everest Group by 68.7% during the fourth quarter. HighTower Advisors LLC now owns 3,963 shares of the company’s stock worth $1,436,000 after buying an additional 1,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after buying an additional 64 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Performance

Shares of NYSE:EG opened at $339.18 on Friday. The business’s fifty day moving average price is $341.09 and its two-hundred day moving average price is $348.85. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the company earned $16.32 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. As a group, analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group’s dividend payout ratio (DPR) is 41.15%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EG. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Barclays boosted their price objective on Everest Group from $394.00 to $398.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Janney Montgomery Scott began coverage on Everest Group in a research report on Friday, June 20th. They set a “buy” rating and a $425.00 price objective on the stock. Evercore ISI lowered their price objective on Everest Group from $400.00 to $396.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Finally, Raymond James Financial restated a “strong-buy” rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Six investment 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. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.83.

Insider Activity at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the acquisition, the chief executive officer owned 25,618 shares of the company’s stock, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Everest Group Company 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.