Meritage Portfolio Management Sells 504 Shares of Everest Group, Ltd. (NYSE:EG)

Meritage Portfolio Management decreased its holdings in Everest Group, Ltd. (NYSE:EG) by 4.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,048 shares of the company’s stock after selling 504 shares during the period. Meritage Portfolio Management’s holdings in Everest Group were worth $4,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of EG. Mizuho Securities USA LLC boosted its stake in Everest Group by 12,263.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after purchasing an additional 412,040 shares during the period. World Investment Advisors LLC bought a new position in Everest Group in the 3rd quarter valued at $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Everest Group by 442.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock valued at $120,744,000 after buying an additional 251,337 shares during the period. Assetmark Inc. increased its stake in Everest Group by 39.7% in the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock worth $160,646,000 after acquiring an additional 116,559 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Everest Group by 21.5% in the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after acquiring an additional 72,822 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling

In other news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. This represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Everest Group Stock Down 1.0 %

NYSE EG opened at $341.72 on Wednesday. The stock has a market capitalization of $14.69 billion, a PE ratio of 5.35, a PEG ratio of 2.50 and a beta of 0.65. Everest Group, Ltd. has a 1 year low of $336.49 and a 1 year high of $407.30. The business’s 50-day moving average is $363.53 and its 200 day moving average is $374.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 22.45% and a net margin of 16.99%. Sell-side analysts forecast that Everest Group, Ltd. will post 36.3 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Wednesday, November 27th. Everest Group’s dividend payout ratio is currently 12.52%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group upgraded shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Bank of America cut 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 report on Thursday, October 10th. TD Cowen lowered their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Everest Group has a consensus rating of “Hold” and an average target price of $411.89.

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.