JPMorgan Chase & Co. Purchases 12,791 Shares of Everest Group, Ltd. (NYSE:EG)

JPMorgan Chase & Co. increased its holdings in Everest Group, Ltd. (NYSE:EG) by 19.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,469 shares of the company’s stock after acquiring an additional 12,791 shares during the quarter. JPMorgan Chase & Co.’s holdings in Everest Group were worth $30,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital lifted its position in shares of Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after buying an additional 29 shares during the last quarter. IFM Investors Pty Ltd lifted its position in Everest Group by 0.3% during the third quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock valued at $4,392,000 after acquiring an additional 38 shares during the last quarter. Covestor Ltd boosted its stake in Everest Group by 9.0% in the third quarter. Covestor Ltd now owns 520 shares of the company’s stock valued at $204,000 after acquiring an additional 43 shares in the last quarter. WealthTrust Asset Management LLC boosted its stake in Everest Group by 1.7% in the second quarter. WealthTrust Asset Management LLC now owns 2,770 shares of the company’s stock valued at $1,055,000 after acquiring an additional 45 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in Everest Group by 51.7% in the third 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 last quarter. 92.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on EG shares. Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company dropped their price target on Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. BMO Capital Markets cut their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a report on Thursday, November 14th. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Everest Group currently has an average rating of “Hold” and a consensus price target of $428.00.

Insider Buying and Selling 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 stock was bought 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 of the company’s stock, valued at $11,443,062.08. The trade was a 9.58 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the firm’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 transaction of $93,741.12. Following the sale, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Everest Group Stock Performance

Shares of NYSE EG opened at $370.96 on Wednesday. The company has a 50 day simple moving average of $368.03 and a two-hundred day simple moving average of $377.35. The stock has a market cap of $15.94 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 2.69 and a beta of 0.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $407.30.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.16%. Everest Group’s dividend payout ratio is presently 12.52%.

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.