Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stock Position in Everest Group, Ltd. (NYSE:EG)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Everest Group, Ltd. (NYSE:EG) by 30.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,987 shares of the company’s stock after selling 5,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Everest Group were worth $4,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in Everest Group in the third quarter valued at about $39,000. Private Trust Co. NA lifted its stake in shares of Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after purchasing an additional 45 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Everest Group in the 3rd quarter worth approximately $64,000. Avior Wealth Management LLC boosted its holdings in shares of Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after buying an additional 47 shares during the last quarter. Finally, Steph & Co. grew its position in Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after buying an additional 35 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

Shares of Everest Group stock opened at $344.09 on Wednesday. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.24 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $352.76 and its 200-day simple moving average is $370.42. Everest Group, Ltd. has a 52 week low of $327.37 and a 52 week high of $407.30.

Everest Group (NYSE:EG) last posted 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 9.04% and a net margin of 7.95%. As a group, analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EG has been the topic of several recent research reports. TD Cowen decreased their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Morgan Stanley reiterated an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Barclays boosted their price objective on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and a consensus price target of $416.50.

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.