Cibc World Markets Corp Sells 1,660 Shares of Everest Group, Ltd. (NYSE:EG)

Cibc World Markets Corp decreased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,778 shares of the company’s stock after selling 1,660 shares during the period. Cibc World Markets Corp’s holdings in Everest Group were worth $2,457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Gitterman Wealth Management LLC acquired a new stake in shares of Everest Group during the fourth quarter worth approximately $308,000. Natixis Advisors LLC increased its holdings in shares of Everest Group by 12.0% during the fourth quarter. Natixis Advisors LLC now owns 29,566 shares of the company’s stock worth $10,716,000 after buying an additional 3,156 shares in the last quarter. Catalyst Funds Management Pty Ltd increased its holdings in shares of Everest Group by 600.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 1,400 shares of the company’s stock worth $507,000 after buying an additional 1,200 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Everest Group by 25.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company’s stock worth $4,369,000 after buying an additional 2,438 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its holdings in shares of Everest Group by 11.7% during the fourth quarter. Achmea Investment Management B.V. now owns 4,111 shares of the company’s stock worth $1,490,000 after buying an additional 432 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EG. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and raised their price target for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Everest Group has a consensus rating of “Hold” and a consensus target price of $416.50.

Insiders Place Their Bets

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Everest Group Price Performance

EG opened at $355.03 on Friday. The company has a fifty day moving average price of $350.92 and a two-hundred day moving average price of $367.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a 52 week low of $327.37 and a 52 week high of $407.30. The firm has a market capitalization of $15.24 billion, a PE ratio of 11.30, a P/E/G ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last released its earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, March 17th. Everest Group’s dividend payout ratio is presently 25.47%.

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.