Covestor Ltd Boosts Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Covestor Ltd lifted its position in shares of Everest Group, Ltd. (NYSE:EG) by 9.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 520 shares of the company’s stock after buying an additional 43 shares during the quarter. Covestor Ltd’s holdings in Everest Group were worth $204,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. bought a new stake in shares of Everest Group in the 3rd quarter worth $262,000. Assetmark Inc. increased its holdings in Everest Group by 39.7% in the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock worth $160,646,000 after buying an additional 116,559 shares in the last quarter. Verdence Capital Advisors LLC purchased a new position in Everest Group in the 3rd quarter worth about $389,000. CWA Asset Management Group LLC bought a new position in Everest Group during the 3rd quarter valued at about $340,000. Finally, Summit Global Investments boosted its holdings in shares of Everest Group by 4.7% during the 3rd quarter. Summit Global Investments now owns 37,371 shares of the company’s stock valued at $14,643,000 after acquiring an additional 1,686 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Performance

Shares of EG opened at $368.29 on Monday. The business has a 50-day simple moving average of $383.08 and a two-hundred day simple moving average of $380.62. The company has a quick ratio of 0.38, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.60 and a beta of 0.63.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio is 12.52%.

Insiders Place Their Bets

In other news, Director William F. Galtney, Jr. purchased 2,870 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Everest Group news, Director William F. Galtney, Jr. purchased 2,870 shares of the business’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the purchase, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on EG. Jefferies Financial Group boosted their price objective on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America decreased their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Keefe, Bruyette & Woods dropped their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. TD Cowen reduced their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Finally, UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $438.00.

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.