Wealthfront Advisers LLC Trims Holdings in Everest Group, Ltd. (NYSE:EG)

Wealthfront Advisers LLC reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 11.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,657 shares of the company’s stock after selling 458 shares during the period. Wealthfront Advisers LLC’s holdings in Everest Group were worth $1,326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vista Investment Partners II LLC purchased a new position in shares of Everest Group during the 4th quarter valued at approximately $1,702,000. Johnson Investment Counsel Inc. lifted its stake in Everest Group by 5.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 186,327 shares of the company’s stock worth $67,536,000 after purchasing an additional 8,984 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Everest Group by 5.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,704 shares of the company’s stock worth $2,067,000 after purchasing an additional 312 shares during the last quarter. Lifeworks Advisors LLC lifted its stake in Everest Group by 38.3% during the fourth quarter. Lifeworks Advisors LLC now owns 16,959 shares of the company’s stock worth $6,147,000 after purchasing an additional 4,694 shares during the last quarter. Finally, Davis Selected Advisers lifted its stake in Everest Group by 0.8% during the fourth quarter. Davis Selected Advisers now owns 39,212 shares of the company’s stock worth $14,213,000 after purchasing an additional 329 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Keefe, Bruyette & Woods raised their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company reduced their price objective on 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $416.50.

Everest Group Stock Performance

EG stock opened at $359.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 1 year low of $327.37 and a 1 year high of $407.30. The stock’s fifty day moving average is $351.55 and its two-hundred day moving average is $368.44.

Everest Group (NYSE:EG) last posted its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. On average, research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is 25.47%.

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.