Prudential PLC Sells 3,818 Shares of Everest Group, Ltd. $EG

Prudential PLC lowered its position in Everest Group, Ltd. (NYSE:EG) by 69.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,718 shares of the company’s stock after selling 3,818 shares during the period. Prudential PLC’s holdings in Everest Group were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Everest Group in the first quarter worth $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group in the 1st quarter worth $34,000. Board of the Pension Protection Fund purchased a new position in Everest Group during the 2nd quarter worth $34,000. WPG Advisers LLC acquired a new position in Everest Group during the 1st quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. raised its stake in Everest Group by 98.9% in the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EG. Evercore ISI boosted their price target on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Raymond James Financial reiterated an “outperform” rating and set a $350.00 price target on shares of Everest Group in a research note on Monday, November 3rd. Barclays reduced their price objective on Everest Group from $425.00 to $365.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Wall Street Zen lowered Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Cowen reiterated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Everest Group has a consensus rating of “Hold” and a consensus price target of $368.77.

Everest Group Stock Down 0.3%

Shares of EG stock opened at $310.39 on Tuesday. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $392.78. The stock has a market cap of $13.03 billion, a P/E ratio of 23.64, a P/E/G ratio of 0.25 and a beta of 0.47. The stock has a 50 day moving average of $335.53 and a 200 day moving average of $337.67. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing the consensus estimate of $13.39 by ($5.85). The company had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.80 EPS. As a group, sell-side analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, November 26th. Everest Group’s dividend payout ratio (DPR) is currently 60.93%.

Insiders Place Their Bets

In other news, Director William F. Galtney, Jr. acquired 11,385 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was acquired at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the transaction, the director owned 45,491 shares in the company, valued at approximately $13,983,023.58. The trade was a 33.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan Levine bought 3,100 shares of the stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the completion of the purchase, the director owned 4,153 shares in the company, valued at approximately $1,271,150.24. This represents a 294.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

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.