ING Groep NV Sells 3,194 Shares of Everest Group, Ltd. (NYSE:EG)

ING Groep NV lowered its stake in Everest Group, Ltd. (NYSE:EG) by 59.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,181 shares of the company’s stock after selling 3,194 shares during the quarter. ING Groep NV’s holdings in Everest Group were worth $855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Boston Partners boosted its position in shares of Everest Group by 29.1% during the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after acquiring an additional 269,665 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Everest Group by 30.2% during the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after acquiring an additional 134,517 shares during the last quarter. Assetmark Inc. boosted its position in shares of Everest Group by 39.7% during the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock valued at $160,646,000 after acquiring an additional 116,559 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Everest Group by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock valued at $203,891,000 after acquiring an additional 38,254 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Everest Group during the 1st quarter valued at about $15,074,000. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EG. TD Cowen dropped their price target 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. Wells Fargo & Company dropped their target price on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. UBS Group upgraded Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Barclays dropped their target price on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $435.18.

Insider Activity

In other Everest Group news, Director William F. Galtney, Jr. bought 2,870 shares of Everest Group 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 purchase, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Everest Group Price Performance

Shares of Everest Group stock opened at $371.33 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The business’s 50 day simple moving average is $380.99 and its two-hundred day simple moving average is $380.69. The stock has a market capitalization of $15.96 billion, a P/E ratio of 5.81, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $417.92.

Everest Group Dividend Announcement

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