ProShare Advisors LLC Sells 251 Shares of Everest Group, Ltd. $EG

ProShare Advisors LLC trimmed its holdings in Everest Group, Ltd. (NYSE:EG) by 2.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,844 shares of the company’s stock after selling 251 shares during the period. ProShare Advisors LLC’s holdings in Everest Group were worth $3,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Everest Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company’s stock valued at $2,026,428,000 after acquiring an additional 17,346 shares during the period. Vulcan Value Partners LLC boosted its position in Everest Group by 35.8% during the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock worth $482,832,000 after purchasing an additional 350,019 shares during the period. Boston Partners increased its holdings in shares of Everest Group by 3.3% in the first quarter. Boston Partners now owns 696,765 shares of the company’s stock valued at $253,150,000 after purchasing an additional 22,432 shares during the last quarter. Altrinsic Global Advisors LLC raised its position in shares of Everest Group by 10.7% in the first quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company’s stock valued at $248,147,000 after purchasing an additional 66,041 shares during the period. Finally, Assetmark Inc. raised its position in shares of Everest Group by 9.7% in the second quarter. Assetmark Inc. now owns 446,569 shares of the company’s stock valued at $151,766,000 after purchasing an additional 39,346 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Performance

NYSE EG opened at $326.11 on Friday. The firm has a 50-day moving average price of $339.11 and a two-hundred day moving average price of $339.28. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $392.78. The company has a market capitalization of $13.69 billion, a P/E ratio of 24.84, a P/E/G ratio of 0.25 and a beta of 0.47. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last released 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). The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.80 earnings per share. Analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $8.00 annualized dividend and a yield of 2.5%. Everest Group’s payout ratio is currently 60.93%.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. purchased 11,385 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was acquired at an average price of $307.38 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan Levine acquired 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were purchased 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 $1,271,150.24. This trade represents a 294.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the subject of a number of research reports. Barclays cut their target price on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Evercore ISI raised their price objective on shares of Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Wall Street Zen cut Everest Group from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Citigroup initiated coverage on Everest Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 target price on the stock. Finally, Keefe, Bruyette & Woods dropped their price target on Everest Group from $424.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and a consensus price target of $372.36.

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.