Mount Lucas Management LP Sells 452 Shares of Everest Group, Ltd. (NYSE:EG)

Mount Lucas Management LP trimmed its holdings in Everest Group, Ltd. (NYSE:EG) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,237 shares of the company’s stock after selling 452 shares during the quarter. Mount Lucas Management LP’s holdings in Everest Group were worth $1,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Everest Group by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after buying an additional 2,818 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Everest Group during the third quarter worth $340,000. Verdence Capital Advisors LLC bought a new position in Everest Group in the third quarter valued at about $389,000. Mesirow Financial Investment Management Inc. bought a new position in Everest Group in the third quarter valued at about $262,000. Finally, Covestor Ltd increased its position in Everest Group by 9.0% in the third quarter. Covestor Ltd now owns 520 shares of the company’s stock worth $204,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of Everest Group stock opened at $363.88 on Monday. The stock’s fifty day simple moving average is $352.43 and its 200 day simple moving average is $369.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $15.62 billion, a PE ratio of 11.58, a PEG ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30.

Everest Group (NYSE:EG) last released its quarterly 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%. On average, research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, March 17th. Everest Group’s payout ratio is currently 25.47%.

Analysts Set New Price Targets

EG has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen reduced their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $416.50.

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.