MQS Management LLC Makes New Investment in Everest Group, Ltd. (NYSE:EG)

MQS Management LLC purchased a new stake in Everest Group, Ltd. (NYSE:EG) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,804 shares of the company’s stock, valued at approximately $707,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EG. Sumitomo Mitsui Trust Group Inc. increased its holdings in Everest Group by 7.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 116,752 shares of the company’s stock valued at $45,747,000 after buying an additional 8,345 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Everest Group in the 3rd quarter worth approximately $1,059,000. Covestor Ltd increased its stake in Everest Group by 9.0% in the 3rd quarter. Covestor Ltd now owns 520 shares of the company’s stock valued at $204,000 after purchasing an additional 43 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in Everest Group during the third quarter worth $262,000. Finally, Assetmark Inc. boosted its position in Everest Group by 39.7% during the third quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock worth $160,646,000 after purchasing an additional 116,559 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the subject of a number of research analyst reports. Barclays dropped their price target 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. Jefferies Financial Group lifted their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their price objective on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. TD Cowen cut their price objective 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. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $403.00 target price on shares of Everest Group in a report on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Everest Group presently has an average rating of “Moderate Buy” and an average target price of $438.00.

Insider Transactions at Everest Group

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the acquisition, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the sale, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the acquisition, the director now directly owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Everest Group Price Performance

Shares of NYSE:EG opened at $368.57 on Wednesday. The business has a fifty day simple moving average of $382.14 and a 200-day simple moving average of $380.67. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. The company has a market cap of $15.84 billion, a P/E ratio of 5.77, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The business also recently disclosed 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio is currently 12.52%.

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.