Everest Group, Ltd. (NYSE:EG) Shares Sold by Focus Partners Wealth

Focus Partners Wealth lessened its stake in Everest Group, Ltd. (NYSE:EG) by 81.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,548 shares of the company’s stock after selling 52,011 shares during the period. Focus Partners Wealth’s holdings in Everest Group were worth $4,187,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EG. Norges Bank acquired a new stake in Everest Group in the 4th quarter valued at approximately $488,588,000. Vulcan Value Partners LLC increased its holdings in 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 purchasing an additional 720,572 shares during the last quarter. Sterling Capital Management LLC increased its holdings in 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 purchasing an additional 276,266 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in 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 purchasing an additional 188,740 shares during the last quarter. Finally, Donald Smith & CO. Inc. acquired a new stake in Everest Group in the 4th quarter valued at approximately $56,341,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction 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 sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Barclays dropped their price target on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. UBS Group dropped their price target on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price target on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Everest Group presently has an average rating of “Moderate Buy” and an average target price of $397.18.

Everest Group Price Performance

Everest Group stock opened at $342.06 on Thursday. The stock has a market cap of $14.55 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. The company has a fifty day simple moving average of $351.79 and a 200-day simple moving average of $357.42. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Everest Group’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $16.32 earnings per share. Equities analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.34%. Everest Group’s dividend payout ratio (DPR) is currently 41.15%.

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.