Everest Group, Ltd. (NYSE:EG) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,468 shares of the company’s stock after selling 16,936 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.17% of Everest Group worth $28,003,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EG. Mizuho Securities USA LLC increased its holdings in shares of Everest Group by 12,263.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock valued at $162,766,000 after acquiring an additional 412,040 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Everest Group by 442.4% during the third 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 purchasing an additional 251,337 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after purchasing an additional 134,517 shares during the period. Assetmark Inc. lifted its position in shares of Everest Group by 39.7% in the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock worth $160,646,000 after buying an additional 116,559 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Everest Group by 21.5% in the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after buying an additional 72,822 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Up 0.4 %

Everest Group stock opened at $385.42 on Wednesday. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $408.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $16.57 billion, a price-to-earnings ratio of 6.03, a PEG ratio of 2.84 and a beta of 0.64. The company’s 50-day moving average price is $380.79 and its two-hundred day moving average price is $381.03.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s payout ratio is currently 12.52%.

Insider Activity

In other Everest Group news, Director William F. Galtney, Jr. bought 2,870 shares of Everest Group stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now directly 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. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EG. Bank of America dropped their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Keefe, Bruyette & Woods cut their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company reduced their price objective on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. TD Cowen cut their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Barclays reduced their price target 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. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $431.30.

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.