NFC Investments LLC Increases Stake in Everest Group, Ltd. (NYSE:EG)

NFC Investments LLC boosted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,445 shares of the company’s stock after purchasing an additional 55 shares during the period. Everest Group makes up about 3.4% of NFC Investments LLC’s portfolio, making the stock its 11th biggest position. NFC Investments LLC’s holdings in Everest Group were worth $11,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Everest Group by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock worth $393,395,000 after buying an additional 17,885 shares during the period. William Blair Investment Management LLC increased its stake in shares of Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after acquiring an additional 134,517 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after purchasing an additional 38,254 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Everest Group by 6.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock valued at $192,267,000 after purchasing an additional 30,458 shares during the period. Finally, LSV Asset Management boosted its holdings in Everest Group by 1.9% in the second quarter. LSV Asset Management now owns 476,433 shares of the company’s stock valued at $181,531,000 after purchasing an additional 8,654 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of EG stock traded up $2.04 during trading hours on Tuesday, reaching $385.77. The company had a trading volume of 67,576 shares, compared to its average volume of 354,603. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $408.71. 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 capitalization of $16.58 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 2.87 and a beta of 0.64. The stock has a fifty day moving average of $380.74 and a 200-day moving average of $381.08.

Everest Group Announces Dividend

The company 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 dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.07%. Everest Group’s payout ratio is 12.52%.

Insider Activity at Everest Group

In other Everest Group news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost 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. The trade was a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EG shares. Keefe, Bruyette & Woods lowered their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, Barclays dropped their target price on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $431.30.

Everest Group Company 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.