Nuveen Asset Management LLC Reduces Position in Everest Group, Ltd. (NYSE:EG)

Nuveen Asset Management LLC trimmed its position in Everest Group, Ltd. (NYSE:EG) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 596,955 shares of the company’s stock after selling 175,875 shares during the quarter. Nuveen Asset Management LLC owned 1.39% of Everest Group worth $216,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of Everest Group by 152.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after buying an additional 13,687 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Everest Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after acquiring an additional 2,818 shares during the period. JPMorgan Chase & Co. boosted its holdings in Everest Group by 39.9% in the fourth quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company’s stock valued at $39,789,000 after acquiring an additional 31,306 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Everest Group by 25.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company’s stock valued at $4,369,000 after purchasing an additional 2,438 shares during the period. Finally, Brandywine Global Investment Management LLC raised its holdings in Everest Group by 108.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 12,423 shares of the company’s stock worth $4,503,000 after purchasing an additional 6,466 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $343.58 on Friday. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $14.61 billion, a P/E ratio of 10.94, a PEG ratio of 0.24 and a beta of 0.58. The stock’s 50 day moving average is $351.50 and its 200 day moving average is $357.16.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the company posted $16.32 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. On average, equities research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.33%. Everest Group’s dividend payout ratio is presently 41.15%.

Wall Street Analysts Forecast Growth

EG has been the topic of a number of research reports. Raymond James reaffirmed a “strong-buy” rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Barclays decreased their target price on Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. UBS Group dropped their price target on Everest Group from $375.00 to $372.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group raised 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 research note on Friday, April 11th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group has a consensus rating of “Moderate Buy” and an average target price of $397.18.

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.