USS Investment Management Ltd cut its position in shares of Everest Group, Ltd. (NYSE:EG – Free Report) by 49.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,853 shares of the company’s stock after selling 3,722 shares during the period. USS Investment Management Ltd’s holdings in Everest Group were worth $1,396,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Everest Group during the fourth quarter worth $31,000. Optiver Holding B.V. acquired a new position in Everest Group during the fourth quarter worth $51,000. Wilmington Savings Fund Society FSB raised its position in Everest Group by 19.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock worth $71,000 after acquiring an additional 32 shares during the period. Private Trust Co. NA grew its position in shares of Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after purchasing an additional 64 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after purchasing an additional 64 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Everest Group
In other news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This represents a 10.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.
Everest Group Stock Down 0.1%
Everest Group (NYSE:EG – Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the company posted $16.32 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.
Everest Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $8.00 annualized dividend and a yield of 2.38%. Everest Group’s dividend payout ratio is presently 41.15%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on EG shares. Evercore ISI reduced their price target on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a research report on Thursday, May 1st. UBS Group reduced their price target on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company reduced their price target on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Jefferies Financial Group upgraded shares of Everest Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Finally, BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Everest Group currently has an average rating of “Moderate Buy” and an average target price of $398.09.
Read Our Latest Analysis on Everest Group
Everest Group 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.
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