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

Focus Partners Wealth reduced its position in shares of Everest Group, Ltd. (NYSE:EG) by 81.8% in the 4th quarter, HoldingsChannel reports. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Ethic Inc. raised its holdings in Everest Group by 35.2% during the fourth quarter. Ethic Inc. now owns 5,122 shares of the company’s stock worth $1,856,000 after purchasing an additional 1,334 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in Everest Group by 3.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 51,815 shares of the company’s stock worth $18,781,000 after purchasing an additional 1,626 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Everest Group during the fourth quarter worth about $5,093,000. Deutsche Bank AG raised its holdings in Everest Group by 28.4% during the fourth quarter. Deutsche Bank AG now owns 232,730 shares of the company’s stock worth $84,355,000 after purchasing an additional 51,492 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in Everest Group by 67.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 92,745 shares of the company’s stock worth $33,616,000 after purchasing an additional 37,303 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EG shares. Keefe, Bruyette & Woods cut their price target on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company cut 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 report on Tuesday, May 6th. Evercore ISI lowered their target price on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley restated an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded shares of Everest Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $397.18.

Everest Group Stock Down 1.2%

EG stock opened at $342.06 on Thursday. The company’s 50 day simple moving average is $351.79 and its 200-day simple moving average is $357.42. The firm has a market capitalization of $14.55 billion, a PE ratio of 10.89, a P/E/G ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

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

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were given a $2.00 dividend. 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 is presently 41.15%.

Everest Group 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.