Everest Group, Ltd. (NYSE:EG) Stake Lessened by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC cut its stake in Everest Group, Ltd. (NYSE:EG) by 21.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,027 shares of the company’s stock after selling 560 shares during the period. Chesley Taft & Associates LLC’s holdings in Everest Group were worth $735,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC raised 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 valued at $162,766,000 after acquiring an additional 412,040 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Everest Group during the third quarter worth $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 worth $120,744,000 after purchasing an additional 251,337 shares during the period. Assetmark Inc. boosted its holdings in shares of 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 buying an additional 116,559 shares during the period. Finally, FMR LLC grew its position in shares of Everest Group by 21.5% during 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 last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Up 0.7 %

Everest Group stock opened at $364.79 on Wednesday. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $407.30. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 5.71, a PEG ratio of 2.44 and a beta of 0.65. The company’s 50-day moving average price is $367.71 and its two-hundred day moving average price is $376.40. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.19%. Everest Group’s dividend payout ratio is presently 12.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EG shares. Keefe, Bruyette & Woods lifted their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Barclays lowered their price objective on Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Bank of America reduced their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and increased their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, BMO Capital Markets raised shares of Everest Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $372.00 to $453.00 in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $435.44.

Insider Buying and Selling

In related news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction dated Monday, November 4th. The stock was 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 of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the business’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. The trade was a 9.58 % increase in their position. The disclosure for this purchase 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.