State of Tennessee Department of Treasury Sells 6,098 Shares of Everest Group, Ltd. (NYSE:EG)

State of Tennessee Department of Treasury trimmed its stake in shares of Everest Group, Ltd. (NYSE:EG) by 30.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,685 shares of the company’s stock after selling 6,098 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Everest Group were worth $4,960,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Everest Group during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new position in Everest Group during the third quarter worth about $64,000. Private Trust Co. NA increased its stake in Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after acquiring an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after acquiring an additional 64 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of Everest Group by 22.4% during the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $353.32 on Friday. The firm has a fifty day simple moving average of $352.06 and a two-hundred day simple moving average of $360.98. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a market capitalization of $16.88 billion, a PE ratio of 11.25, a P/E/G ratio of 0.24 and a beta of 0.43. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last released its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, March 17th. Everest Group’s dividend payout ratio is 25.47%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Everest Group from $370.00 to $362.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. UBS Group dropped their price objective on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their target price on Everest Group from $434.00 to $402.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Five investment 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, the stock presently has a consensus rating of “Hold” and an average price target of $396.00.

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, 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 document filed with the SEC, which is available at the SEC website. 1.10% 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.