Intech Investment Management LLC Boosts Stake in Everest Group, Ltd. (NYSE:EG)

Intech Investment Management LLC boosted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 13.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,324 shares of the company’s stock after purchasing an additional 3,166 shares during the period. Intech Investment Management LLC’s holdings in Everest Group were worth $10,706,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. American National Bank bought a new position in Everest Group during the second quarter valued at $27,000. M&R Capital Management Inc. bought a new stake in Everest Group during the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC lifted its position in shares of Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 52 shares in the last quarter. Eastern Bank purchased a new position in shares of Everest Group in the third quarter valued at $35,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

In related news, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the transaction, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. The trade was a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America reduced their price objective 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. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. BMO Capital Markets lowered their price objective on Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Finally, Barclays dropped their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Everest Group currently has an average rating of “Moderate Buy” and a consensus target price of $434.10.

Everest Group Price Performance

Shares of Everest Group stock opened at $385.65 on Friday. The firm has a market capitalization of $16.58 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 2.72 and a beta of 0.63. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The business’s 50-day moving average price is $380.64 and its 200-day moving average price is $380.71.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.07%. Everest Group’s payout ratio is 12.52%.

About Everest Group

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.