Los Angeles Capital Management LLC Sells 63,824 Shares of Everest Group, Ltd. (NYSE:EG)

Los Angeles Capital Management LLC lowered its position in shares of Everest Group, Ltd. (NYSE:EG) by 62.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,919 shares of the company’s stock after selling 63,824 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.09% of Everest Group worth $13,744,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in EG. Mizuho Securities USA LLC increased its position in shares of Everest Group by 12,263.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after purchasing an additional 412,040 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Everest Group in the 3rd quarter valued at about $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Everest Group by 442.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock valued at $120,744,000 after acquiring an additional 251,337 shares in the last quarter. Assetmark Inc. increased its position in Everest Group by 39.7% in the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock valued at $160,646,000 after acquiring an additional 116,559 shares in the last quarter. Finally, Truist Financial Corp increased its position in Everest Group by 7,580.7% in the 4th quarter. Truist Financial Corp now owns 92,936 shares of the company’s stock valued at $33,686,000 after acquiring an additional 91,726 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EG shares. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. TD Cowen lowered their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company lowered their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $416.50.

Everest Group Stock Up 0.9 %

Everest Group stock opened at $344.09 on Wednesday. The company’s 50 day simple moving average is $352.76 and its 200 day simple moving average is $370.42. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

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.