Qsemble Capital Management LP Reduces Stock Position in Everest Group, Ltd. (NYSE:EG)

Qsemble Capital Management LP lessened its position in shares of Everest Group, Ltd. (NYSE:EG) by 65.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 777 shares of the company’s stock after selling 1,449 shares during the quarter. Qsemble Capital Management LP’s holdings in Everest Group were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Boston Partners boosted its stake in shares of Everest Group by 29.1% in the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after buying an additional 269,665 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Everest Group by 1.8% in the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock worth $393,395,000 after buying an additional 17,885 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after buying an additional 134,517 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Everest Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after buying an additional 38,254 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Everest Group by 6.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock worth $192,267,000 after buying an additional 30,458 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In related news, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James Allan Williamson sold 200 shares of the stock in a transaction that occurred on 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 directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Everest Group Price Performance

Shares of Everest Group stock opened at $388.78 on Thursday. The business has a 50 day simple moving average of $380.79 and a two-hundred day simple moving average of $380.90. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.04. The stock has a market capitalization of $16.71 billion, a P/E ratio of 6.08, a PEG ratio of 2.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.06%. Everest Group’s payout ratio is currently 12.52%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $420.00 to $429.00 in a research note on Tuesday. TD Cowen lowered their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Barclays lowered their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Keefe, Bruyette & Woods lowered their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, UBS Group upgraded Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $431.30.

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.