Fmr LLC Raises Position in Everest Group, Ltd. (NYSE:EG)

Fmr LLC increased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 21.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 410,861 shares of the company’s stock after buying an additional 72,822 shares during the quarter. Fmr LLC’s holdings in Everest Group were worth $160,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its position in shares of Everest Group by 39.3% in the 1st quarter. Cetera Investment Advisers now owns 4,879 shares of the company’s stock valued at $1,940,000 after acquiring an additional 1,377 shares during the period. Cetera Advisors LLC purchased a new position in shares of Everest Group in the first quarter worth about $340,000. GAMMA Investing LLC lifted its holdings in shares of Everest Group by 57.3% during the second quarter. GAMMA Investing LLC now owns 689 shares of the company’s stock worth $263,000 after purchasing an additional 251 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after buying an additional 31 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in Everest Group by 5.9% in the 2nd quarter. DNB Asset Management AS now owns 7,404 shares of the company’s stock worth $2,821,000 after buying an additional 411 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of NYSE EG opened at $385.42 on Wednesday. The firm has a 50-day simple moving average of $380.74 and a 200-day simple moving average of $381.08. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 6.03, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $408.71.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.08%. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Insider Activity at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, for a total transaction 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 approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EG shares. Bank of America decreased their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Keefe, Bruyette & Woods dropped their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company reduced their price target 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. Finally, BMO Capital Markets lowered their price objective on Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $431.30.

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.