Pitcairn Co. Decreases Stake in Everest Group, Ltd. (NYSE:EG)

Pitcairn Co. lessened its stake in shares of Everest Group, Ltd. (NYSE:EG) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 936 shares of the company’s stock after selling 35 shares during the period. Pitcairn Co.’s holdings in Everest Group were worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in Everest Group in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Everest Group in the 3rd quarter valued at $64,000. Private Trust Co. NA increased its stake in shares of Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after acquiring an additional 64 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after purchasing an additional 64 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in Everest Group by 22.4% during the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Ratings Changes

EG has been the topic of several analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their price target on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Barclays raised their price objective on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $416.50.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares in the company, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Everest Group Price Performance

Everest Group stock opened at $337.09 on Monday. The company has a fifty day simple moving average of $350.91 and a 200-day simple moving average of $365.44. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.24 and a beta of 0.43. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 52-week low of $322.10 and a 52-week high of $407.30.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. On average, equities analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

Everest Group Company 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.