Northwest & Ethical Investments L.P. Reduces Stock Position in Everest Group, Ltd. $EG

Northwest & Ethical Investments L.P. trimmed its position in Everest Group, Ltd. (NYSE:EG) by 58.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,163 shares of the company’s stock after selling 22,820 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Everest Group were worth $5,493,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EG. Exchange Traded Concepts LLC lifted its stake in shares of Everest Group by 25.3% during the second quarter. Exchange Traded Concepts LLC now owns 3,647 shares of the company’s stock valued at $1,239,000 after buying an additional 737 shares during the period. Brandywine Global Investment Management LLC grew its stake in Everest Group by 109.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 26,030 shares of the company’s stock worth $9,457,000 after acquiring an additional 13,607 shares during the period. Korea Investment CORP raised its holdings in Everest Group by 130.4% in the 1st quarter. Korea Investment CORP now owns 62,093 shares of the company’s stock valued at $22,560,000 after acquiring an additional 35,145 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Everest Group by 95.8% during the 1st quarter. Panagora Asset Management Inc. now owns 7,415 shares of the company’s stock worth $2,694,000 after purchasing an additional 3,628 shares during the period. Finally, Interval Partners LP purchased a new stake in shares of Everest Group in the first quarter valued at $5,185,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays reduced their target price on Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Citigroup initiated coverage on shares of Everest Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price objective for the company. Wolfe Research raised shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $350.00 price target on shares of Everest Group in a research note on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $368.77.

Everest Group Stock Down 0.6%

Shares of NYSE:EG opened at $312.17 on Thursday. The stock has a 50-day simple moving average of $334.76 and a 200-day simple moving average of $337.26. The stock has a market capitalization of $13.10 billion, a P/E ratio of 23.78, a PEG ratio of 0.25 and a beta of 0.47. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $392.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the firm earned $11.80 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be issued a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 26th. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. Everest Group’s payout ratio is presently 60.93%.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. acquired 11,385 shares of Everest Group stock in a transaction on Wednesday, October 29th. The shares were bought at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the purchase, the director directly owned 45,491 shares in the company, valued at $13,983,023.58. This trade represents a 33.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Allan Levine bought 3,100 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was bought at an average cost of $306.08 per share, with a total value of $948,848.00. Following the transaction, the director directly owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

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.