Prudential PLC Buys 6,406 Shares of Everest Group, Ltd. (NYSE:EG)

Prudential PLC increased its stake in Everest Group, Ltd. (NYSE:EG) by 249.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,979 shares of the company’s stock after acquiring an additional 6,406 shares during the period. Prudential PLC’s holdings in Everest Group were worth $3,255,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in Everest Group in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the 3rd quarter valued at $64,000. Private Trust Co. NA boosted its position in Everest Group by 48.5% during the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after buying an additional 64 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after acquiring an additional 64 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after acquiring an additional 47 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EG. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Barclays upped their target price on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $416.50.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Everest Group Price Performance

Shares of NYSE EG opened at $337.09 on Friday. The company has a 50 day simple moving average of $350.91 and a two-hundred day simple moving average of $365.60. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 0.24 and a beta of 0.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio is presently 25.47%.

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.