Everest Group, Ltd. (NYSE:EG) Position Trimmed by Blueshift Asset Management LLC

Blueshift Asset Management LLC reduced its holdings in Everest Group, Ltd. (NYSE:EG) by 28.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 619 shares of the company’s stock after selling 242 shares during the quarter. Blueshift Asset Management LLC’s holdings in Everest Group were worth $243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in Everest Group by 14.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,277 shares of the company’s stock valued at $31,116,000 after acquiring an additional 9,714 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Everest Group by 9.4% during the first quarter. Tidal Investments LLC now owns 3,991 shares of the company’s stock valued at $1,584,000 after purchasing an additional 342 shares in the last quarter. Swedbank AB acquired a new stake in Everest Group in the first quarter worth about $15,074,000. Cetera Investment Advisers grew its position in 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 buying an additional 1,377 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in Everest Group during the 1st quarter valued at about $340,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were 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 directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the company’s stock in a transaction on Monday, November 4th. The stock was bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the purchase, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Everest Group Stock Up 0.9 %

Shares of NYSE:EG opened at $389.00 on Friday. The firm has a 50 day simple moving average of $380.79 and a 200 day simple moving average of $380.95. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $16.72 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 2.88 and a beta of 0.63.

Everest Group Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.06%. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Analyst Upgrades and Downgrades

EG has been the subject of a number of research analyst reports. Barclays cut their target price 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. TD Cowen cut their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and raised their target price for the company from $420.00 to $429.00 in a research note on Tuesday. BMO Capital Markets dropped their price target on shares of 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. Finally, Keefe, Bruyette & Woods cut their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $431.30.

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.