Everest Group, Ltd. (NYSE:EG) Holdings Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in shares of Everest Group, Ltd. (NYSE:EG) by 2.7% in the 3rd quarter, Holdings Channel reports. The firm owned 7,544 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Public Sector Pension Investment Board’s holdings in Everest Group were worth $2,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Csenge Advisory Group increased its holdings in shares of Everest Group by 2.2% in the 2nd quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock worth $472,000 after acquiring an additional 27 shares during the period. Legend Financial Advisors Inc. increased its stake in shares of Everest Group by 1.6% in the second quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock valued at $672,000 after purchasing an additional 27 shares during the period. Wedmont Private Capital raised its holdings in shares of Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after buying an additional 29 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Everest Group by 36.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after buying an additional 31 shares during the period. Finally, Banque Cantonale Vaudoise grew its holdings in Everest Group by 4.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 745 shares of the company’s stock worth $284,000 after buying an additional 33 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EG. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and lifted their target price for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Wells Fargo & Company cut their price objective on shares of 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. Barclays reduced their price objective on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Bank of America dropped their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, TD Cowen reduced their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $431.30.

Everest Group Stock Up 0.4 %

NYSE EG opened at $385.42 on Wednesday. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $408.71. The company has a market capitalization of $16.57 billion, a P/E ratio of 6.03, a PEG ratio of 2.84 and a beta of 0.64. The company’s 50 day simple moving average is $380.74 and its 200 day simple moving average is $381.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

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 given a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.08%. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Insider Transactions at Everest Group

In other news, Director William F. Galtney, Jr. bought 2,870 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

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.