Everest Group, Ltd. (NYSE:EG) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. decreased its position in shares of Everest Group, Ltd. (NYSE:EG) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,491 shares of the company’s stock after selling 207 shares during the period. Shell Asset Management Co.’s holdings in Everest Group were worth $3,803,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EG. Norges Bank purchased a new stake in Everest Group during the 4th quarter worth about $488,588,000. Vulcan Value Partners LLC increased its holdings in shares of Everest Group by 279.1% in the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company’s stock valued at $354,768,000 after acquiring an additional 720,572 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Everest Group by 11,756.0% in the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company’s stock valued at $100,987,000 after acquiring an additional 276,266 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Everest Group by 14,518.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company’s stock valued at $68,882,000 after acquiring an additional 188,740 shares during the last quarter. Finally, Donald Smith & CO. Inc. purchased a new position in shares of Everest Group in the 4th quarter valued at about $56,341,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EG. Wells Fargo & Company dropped their price objective on Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $376.00 to $415.00 in a report on Friday, April 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price target on Everest Group from $434.00 to $402.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays dropped their price target on Everest Group from $470.00 to $394.00 and set an “overweight” rating on the stock 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $397.18.

Everest Group Stock Performance

NYSE EG opened at $343.58 on Friday. 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 cap of $14.61 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. The business has a fifty day moving average of $351.50 and a 200-day moving average of $357.16. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last released 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 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 analyst estimates of $3.89 billion. During the same period last year, the firm earned $16.32 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

Insider Activity

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.