Bank of Montreal Can Raises Stake in Everest Group, Ltd. (NYSE:EG)

Bank of Montreal Can increased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 41.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 199,361 shares of the company’s stock after buying an additional 58,787 shares during the period. Bank of Montreal Can owned about 0.46% of Everest Group worth $78,776,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA raised its stake in shares of Everest Group by 51.7% in the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after buying an additional 45 shares during the period. Independent Advisor Alliance purchased a new stake in Everest Group in the 3rd quarter worth about $510,000. Daiwa Securities Group Inc. lifted its holdings in Everest Group by 13.7% during the third quarter. Daiwa Securities Group Inc. now owns 5,392 shares of the company’s stock valued at $2,113,000 after purchasing an additional 648 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Everest Group during the third quarter valued at about $220,000. Finally, Kingsview Wealth Management LLC bought a new position in Everest Group during the third quarter worth about $2,076,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EG shares. TD Cowen lowered their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. BMO Capital Markets lowered their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a report on Thursday, November 14th. Keefe, Bruyette & Woods dropped their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $420.00 to $429.00 in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $431.30.

Everest Group Trading Down 0.6 %

Shares of EG opened at $387.59 on Wednesday. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.04. The company has a market capitalization of $16.66 billion, a P/E ratio of 6.07, a P/E/G ratio of 2.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The firm’s 50 day simple moving average is $380.79 and its 200 day simple moving average is $380.87.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, November 27th. Everest Group’s dividend payout ratio is currently 12.52%.

Insider Buying and Selling

In other Everest Group news, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction dated Monday, November 4th. The stock was purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the acquisition, the director now owns 32,822 shares in the company, valued at $11,443,062.08. The trade was a 9.58 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

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.