Everest Group, Ltd. (NYSE:EG) is Te Ahumairangi Investment Management Ltd’s 5th Largest Position

Te Ahumairangi Investment Management Ltd trimmed its position in Everest Group, Ltd. (NYSE:EG) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,580 shares of the company’s stock after selling 515 shares during the quarter. Everest Group accounts for approximately 2.7% of Te Ahumairangi Investment Management Ltd’s portfolio, making the stock its 5th largest holding. Te Ahumairangi Investment Management Ltd owned about 0.08% of Everest Group worth $12,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dakota Wealth Management grew its holdings in Everest Group by 1.7% during the 4th quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock valued at $705,000 after purchasing an additional 32 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in Everest Group by 19.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after buying an additional 32 shares during the last quarter. Steph & Co. grew its stake in shares of Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after acquiring an additional 35 shares in the last quarter. Lester Murray Antman dba SimplyRich increased its position in shares of Everest Group by 2.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after acquiring an additional 35 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in shares of Everest Group by 5.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 661 shares of the company’s stock worth $239,000 after acquiring an additional 37 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Barclays increased their target price on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $416.50.

Everest Group Stock Performance

Shares of EG opened at $365.12 on Wednesday. The company has a market capitalization of $15.68 billion, a PE ratio of 11.62, a PEG ratio of 0.24 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The company’s 50 day moving average price is $351.47 and its 200 day moving average price is $366.15. Everest Group, Ltd. has a 52 week low of $327.37 and a 52 week high of $407.30.

Everest Group (NYSE:EG) last posted its quarterly 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 return on equity of 9.04% and a net margin of 7.95%. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio is 25.47%.

About Everest Group

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.