Everest Group, Ltd. $EG Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 260,429 shares of the company’s stock after selling 17,813 shares during the period. Everest Group makes up approximately 1.3% of Sterling Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Sterling Capital Management LLC owned approximately 0.62% of Everest Group worth $88,507,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Everest Group by 0.3% in the first 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 last quarter. Vulcan Value Partners LLC lifted its stake in shares of Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock valued at $482,832,000 after purchasing an additional 350,019 shares in the last quarter. Boston Partners increased its position in Everest Group by 3.3% during the 1st quarter. Boston Partners now owns 696,765 shares of the company’s stock worth $253,150,000 after purchasing an additional 22,432 shares in the last quarter. Altrinsic Global Advisors LLC raised its holdings in 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 buying an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Everest Group by 11.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock valued at $200,911,000 after buying an additional 56,410 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Everest Group news, Director William F. Galtney, Jr. acquired 11,385 shares of the 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 transaction, the director directly owned 45,491 shares in the company, valued at approximately $13,983,023.58. This represents a 33.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan Levine acquired 3,100 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were acquired at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the purchase, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wolfe Research raised shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Barclays lowered their target price 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. Raymond James Financial reiterated an “outperform” rating and set a $350.00 price objective on shares of Everest Group in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Everest Group from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $372.36.

Everest Group Trading Down 0.8%

Shares of NYSE EG opened at $319.43 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $341.24 and its two-hundred day moving average price is $340.42. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $392.78. The stock has a market capitalization of $13.41 billion, a P/E ratio of 24.33, a PEG ratio of 0.25 and a beta of 0.47.

Everest Group (NYSE:EG) last issued 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 firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. Everest Group’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $11.80 earnings per share. On average, analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, November 26th. Everest Group’s dividend payout ratio (DPR) is presently 60.93%.

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.