Prudential PLC Decreases Position in Everest Group, Ltd. $EG

Prudential PLC trimmed its position in Everest Group, Ltd. (NYSE:EG) by 69.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,718 shares of the company’s stock after selling 3,818 shares during the period. Prudential PLC’s holdings in Everest Group were worth $584,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Everest Group in the first quarter worth approximately $137,418,000. Vulcan Value Partners LLC lifted its holdings in 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 purchasing an additional 350,019 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Everest Group in the 2nd quarter valued at $28,785,000. Amundi boosted its stake in Everest Group by 72.6% during the 1st quarter. Amundi now owns 180,484 shares of the company’s stock worth $65,292,000 after purchasing an additional 75,920 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Everest Group by 183.4% during the first quarter. Russell Investments Group Ltd. now owns 112,345 shares of the company’s stock worth $40,716,000 after buying an additional 72,709 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Transactions at Everest Group

In related news, Director Allan Levine bought 3,100 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the acquisition, the director owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William F. Galtney, Jr. bought 11,385 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was purchased at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the transaction, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

Everest Group Trading Down 0.3%

Shares of Everest Group stock opened at $310.39 on Tuesday. The stock has a 50 day moving average of $335.53 and a 200 day moving average of $337.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 0.25 and a beta of 0.47. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $392.78.

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

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s dividend payout ratio (DPR) is 60.93%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wolfe Research raised shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Barclays decreased their target price on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Cowen restated a “hold” rating on shares of Everest Group in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods cut their price target on Everest Group from $424.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Finally, Wall Street Zen downgraded Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $368.77.

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.