Intech Investment Management LLC Has $13.11 Million Stock Position in Everest Group, Ltd. $EG

Intech Investment Management LLC lessened its stake in Everest Group, Ltd. (NYSE:EG) by 26.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,576 shares of the company’s stock after selling 13,821 shares during the quarter. Intech Investment Management LLC owned about 0.09% of Everest Group worth $13,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of EG. Nuveen LLC acquired a new stake in shares of Everest Group in the first quarter valued at approximately $137,418,000. Vulcan Value Partners LLC increased its stake in shares of Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock valued at $482,832,000 after buying an additional 350,019 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Everest Group during the second quarter worth $28,785,000. Amundi lifted its stake in shares of Everest Group by 72.6% during the first quarter. Amundi now owns 180,484 shares of the company’s stock valued at $65,292,000 after acquiring an additional 75,920 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Everest Group by 183.4% in the first quarter. Russell Investments Group Ltd. now owns 112,345 shares of the company’s stock valued at $40,716,000 after acquiring an additional 72,709 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on EG shares. Keefe, Bruyette & Woods cut their target price on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Citigroup assumed coverage on shares of Everest Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 target price for the company. Cantor Fitzgerald raised Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Evercore ISI upped their price objective on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Finally, Wells Fargo & Company reduced their target price on Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $372.36.

Everest Group Stock Performance

Shares of Everest Group stock opened at $326.11 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 0.25 and a beta of 0.47. The stock’s 50-day moving average is $339.11 and its 200-day moving average is $339.14. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $392.78.

Everest Group (NYSE:EG) last announced its earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $11.80 EPS. Equities analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s payout ratio is currently 60.93%.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. bought 11,385 shares of Everest Group stock in a transaction that occurred on Wednesday, October 29th. The stock was acquired at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the acquisition, the director owned 45,491 shares of the company’s stock, valued at $13,983,023.58. This trade represents a 33.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Allan Levine purchased 3,100 shares of the stock in a transaction on Wednesday, October 29th. The stock was acquired at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the completion of the purchase, the director directly owned 4,153 shares in the company, valued at approximately $1,271,150.24. The trade was a 294.40% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.10% of the company’s stock.

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.