UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Everest Group, Ltd. (NYSE:EG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 442.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 308,155 shares of the company’s stock after purchasing an additional 251,337 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.72% of Everest Group worth $120,744,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Everest Group by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock worth $393,395,000 after purchasing an additional 17,885 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Everest Group by 30.2% during 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 grew its holdings in shares of Everest Group by 7.7% during 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. Massachusetts Financial Services Co. MA grew its holdings in shares of Everest Group by 6.6% during 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. Finally, LSV Asset Management grew its holdings in shares of Everest Group by 1.9% during the second quarter. LSV Asset Management now owns 476,433 shares of the company’s stock worth $181,531,000 after buying an additional 8,654 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

EG stock opened at $387.56 on Monday. The firm has a 50 day moving average of $380.80 and a 200-day moving average of $381.07. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $413.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 2.87 and a beta of 0.63.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given 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 12.52%.

Insider Activity

In related news, Director William F. Galtney, Jr. acquired 2,870 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group 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 transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EG. UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. 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 report on Thursday, August 8th. BMO Capital Markets lowered their price target on Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a report on Thursday, November 14th. Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, Barclays lowered their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $431.30.

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.