Elevated Capital Advisors LLC Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

Elevated Capital Advisors LLC lifted its position in Everest Group, Ltd. (NYSE:EG) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,193 shares of the company’s stock after purchasing an additional 127 shares during the period. Elevated Capital Advisors LLC’s holdings in Everest Group were worth $795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EG. Acadian Asset Management LLC purchased a new position in Everest Group during the 2nd quarter valued at about $601,000. Daiwa Securities Group Inc. increased its holdings in Everest Group by 12.3% during the second quarter. Daiwa Securities Group Inc. now owns 4,744 shares of the company’s stock valued at $1,808,000 after buying an additional 519 shares during the period. Headlands Technologies LLC bought a new position in Everest Group in the second quarter worth approximately $90,000. American Century Companies Inc. lifted its holdings in Everest Group by 19.3% during the second quarter. American Century Companies Inc. now owns 110,303 shares of the company’s stock worth $42,028,000 after buying an additional 17,850 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in Everest Group by 2.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 34,755 shares of the company’s stock valued at $13,209,000 after acquiring an additional 770 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value 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 approximately $5,553,330. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought 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. This represents 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 owned by corporate insiders.

Analyst Ratings Changes

EG has been the subject of several recent research reports. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their target price on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, Bank of America lowered 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 note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Everest Group currently has an average rating of “Moderate Buy” and a consensus price target of $436.56.

Everest Group Stock Performance

Shares of NYSE:EG traded down $2.14 on Monday, hitting $351.38. 296,524 shares of the company were exchanged, compared to its average volume of 364,227. The firm has a market capitalization of $15.10 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $407.30. The stock’s 50 day moving average price is $368.10 and its 200 day moving average price is $376.99.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.28%. Everest Group’s dividend payout ratio is currently 12.52%.

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.