Elevated Capital Advisors LLC lifted its position in Everest Group, Ltd. (NYSE:EG – Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,193 shares of the company’s stock after purchasing an additional 127 shares during the period. Elevated Capital Advisors LLC’s holdings in Everest Group were worth $795,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in EG. SG Americas Securities LLC grew its position in shares of Everest Group by 284.8% in the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after buying an additional 18,175 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Everest Group during the 2nd quarter valued at $921,000. Brophy Wealth Management LLC bought a new position in Everest Group in the 3rd quarter worth $749,000. JPMorgan Chase & Co. lifted its position in shares of Everest Group by 19.5% in the 3rd 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. Finally, Intech Investment Management LLC boosted its stake in shares of Everest Group by 13.1% during the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock valued at $10,706,000 after purchasing an additional 3,166 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
EG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Bank of America cut their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. TD Cowen dropped 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 note on Monday, November 18th. Finally, Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Everest Group currently has an average rating of “Moderate Buy” and an average price target of $436.56.
Everest Group Price Performance
Shares of NYSE:EG traded down $2.14 during trading on Monday, hitting $351.38. 296,524 shares of the company’s stock were exchanged, compared to its average volume of 364,227. The business’s 50-day simple moving average is $368.10 and its 200 day simple moving average is $376.99. 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, Ltd. has a 52-week low of $343.76 and a 52-week high of $407.30. The company has a market cap of $15.10 billion, a price-to-earnings ratio of 5.50, a PEG ratio of 2.69 and a beta of 0.65.
Everest Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.28%. Everest Group’s dividend payout ratio is currently 12.52%.
Insider Activity at Everest Group
In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO James Allan Williamson sold 200 shares of the firm’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 value of $74,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate 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.
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