Independent Advisor Alliance Invests $510,000 in Everest Group, Ltd. (NYSE:EG)

Independent Advisor Alliance purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,301 shares of the company’s stock, valued at approximately $510,000.

Other institutional investors also recently modified their holdings of the company. Csenge Advisory Group boosted its stake in Everest Group by 2.2% in the second quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock worth $472,000 after purchasing an additional 27 shares in the last quarter. Legend Financial Advisors Inc. lifted its position in Everest Group by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock worth $672,000 after buying an additional 27 shares in the last quarter. Wedmont Private Capital grew its holdings in Everest Group by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock worth $238,000 after acquiring an additional 29 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of Everest Group by 4.6% in the second quarter. Banque Cantonale Vaudoise now owns 745 shares of the company’s stock worth $284,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $420.00 to $429.00 in a research report on Tuesday. Barclays dropped their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. BMO Capital Markets reduced their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Wells Fargo & Company lowered their price target on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, TD Cowen reduced their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Everest Group has a consensus rating of “Hold” and an average price target of $431.30.

Everest Group Price Performance

EG opened at $388.78 on Thursday. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.04. The company has a fifty day simple moving average of $380.79 and a 200 day simple moving average of $380.90. The stock has a market cap of $16.71 billion, a P/E ratio of 6.08, a P/E/G ratio of 2.89 and a beta of 0.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%. Everest Group’s payout ratio is 12.52%.

Insider Transactions at Everest Group

In other news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the sale, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

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.