Everest Group, Ltd. (NYSE:EG) Stock Holdings Lowered by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its stake in Everest Group, Ltd. (NYSE:EG) by 89.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,441 shares of the company’s stock after selling 246,294 shares during the quarter. Clearbridge Investments LLC owned 0.07% of Everest Group worth $10,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in Everest Group by 152.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after acquiring an additional 13,687 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Everest Group by 19.5% during the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after purchasing an additional 12,791 shares during the period. Brophy Wealth Management LLC purchased a new position in Everest Group during the third quarter valued at approximately $749,000. Principal Financial Group Inc. increased its stake in Everest Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after buying an additional 2,818 shares during the period. Finally, Stifel Financial Corp increased its stake in Everest Group by 3.9% in the 3rd quarter. Stifel Financial Corp now owns 4,347 shares of the company’s stock valued at $1,704,000 after buying an additional 162 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Everest Group

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

Analysts Set New Price Targets

Several equities analysts have recently commented on EG shares. Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Barclays boosted their target price on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price target 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. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $416.50.

Everest Group Price Performance

Shares of Everest Group stock opened at $365.59 on Thursday. Everest Group, Ltd. has a 1-year low of $327.37 and a 1-year high of $407.30. The firm has a fifty day simple moving average of $351.50 and a 200-day simple moving average of $366.15. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) 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%. On average, sell-side analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

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

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.