Prospector Partners LLC Raises Position in Everest Group, Ltd. (NYSE:EG)

Prospector Partners LLC grew its stake in Everest Group, Ltd. (NYSE:EG) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 43,501 shares of the company’s stock after purchasing an additional 208 shares during the period. Everest Group comprises approximately 1.8% of Prospector Partners LLC’s holdings, making the stock its 19th largest position. Prospector Partners LLC’s holdings in Everest Group were worth $17,045,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FMR LLC boosted its stake in Everest Group by 21.5% during the third quarter. FMR LLC now owns 410,861 shares of the company’s stock worth $160,988,000 after buying an additional 72,822 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Everest Group by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 32,133 shares of the company’s stock worth $12,591,000 after acquiring an additional 969 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Everest Group by 41.8% during the 3rd quarter. Bank of Montreal Can now owns 199,361 shares of the company’s stock worth $78,776,000 after purchasing an additional 58,787 shares during the period. Private Trust Co. NA raised its position in Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after purchasing an additional 45 shares during the period. Finally, Independent Advisor Alliance bought a new stake in Everest Group in the third quarter worth about $510,000. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

EG has been the subject of a number of research analyst reports. Barclays decreased their price target 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. BMO Capital Markets lowered 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 note on Thursday, November 14th. Bank of America cut their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $420.00 to $429.00 in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Everest Group has a consensus rating of “Hold” and an average target price of $431.30.

Everest Group Trading Up 0.3 %

Everest Group stock opened at $390.31 on Tuesday. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.04. The stock has a 50-day moving average price of $380.77 and a 200 day moving average price of $380.80. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $16.78 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 2.88 and a beta of 0.63.

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. This represents a $8.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is currently 12.52%.

Insider Transactions at Everest Group

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the sale, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

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.