Corient Private Wealth LLC Reduces Stock Position in Everest Group, Ltd. (NYSE:EG)

Corient Private Wealth LLC cut its stake in Everest Group, Ltd. (NYSE:EG) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,342 shares of the company’s stock after selling 1,954 shares during the period. Corient Private Wealth LLC’s holdings in Everest Group were worth $9,544,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock valued at $8,225,000 after buying an additional 13,687 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Everest Group by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after buying an additional 12,791 shares in the last quarter. Brophy Wealth Management LLC purchased a new position in shares of Everest Group during the 3rd quarter worth approximately $749,000. Intech Investment Management LLC increased its stake in shares of Everest Group by 13.1% during the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after purchasing an additional 3,166 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of 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 purchasing an additional 2,818 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

EG has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price objective on shares of 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 shares of 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. Barclays raised their price objective on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley reissued 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Everest Group presently has an average rating of “Hold” and an average price target of $416.50.

Everest Group Stock Performance

NYSE:EG opened at $356.63 on Thursday. 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 firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.24 and a beta of 0.61. The firm’s fifty day simple moving average is $351.18 and its 200 day simple moving average is $367.81. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30.

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

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be issued a dividend of $2.00 per share. The ex-dividend date is Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.24%. Everest Group’s payout ratio 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.