Mount Lucas Management LP Has $2.23 Million Position in Everest Group, Ltd. (NYSE:EG)

Mount Lucas Management LP lessened its stake in Everest Group, Ltd. (NYSE:EG) by 53.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,689 shares of the company’s stock after selling 6,597 shares during the quarter. Mount Lucas Management LP’s holdings in Everest Group were worth $2,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EG. American National Bank purchased a new position in shares of Everest Group during the 2nd quarter valued at $27,000. M&R Capital Management Inc. acquired a new stake in Everest Group during the third quarter valued at $29,000. Bruce G. Allen Investments LLC grew its stake in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares in the last quarter. Eastern Bank acquired a new position in Everest Group in the 3rd quarter worth about $35,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Activity at Everest Group

In related news, Director William F. Galtney, Jr. acquired 2,870 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the acquisition, the director now owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Everest Group Stock Up 1.3 %

Everest Group stock opened at $371.33 on Friday. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 5.81, a P/E/G ratio of 2.66 and a beta of 0.63. The firm has a fifty day moving average price of $380.99 and a two-hundred day moving average price of $380.62. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $417.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.15%. Everest Group’s payout ratio is 12.52%.

Wall Street Analyst Weigh In

EG has been the subject of several recent research reports. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets decreased their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday. TD Cowen dropped their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods reduced their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lowered their target price on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.18.

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.