Sit Investment Associates Inc. Has $343,000 Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Sit Investment Associates Inc. reduced its position in shares of Everest Group, Ltd. (NYSE:EG) by 77.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 947 shares of the company’s stock after selling 3,225 shares during the quarter. Sit Investment Associates Inc.’s holdings in Everest Group were worth $343,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages recently issued reports on EG. 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 report on Friday, January 10th. Wells Fargo & Company cut their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, Barclays boosted their target price on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $416.50.

Insiders Place Their Bets

In related news, Director Geraldine Losquadro sold 1,500 shares of the company’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 sale, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Everest Group Trading Down 6.8 %

Shares of EG opened at $337.09 on Monday. The firm has a market cap of $14.47 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. Everest Group, Ltd. has a fifty-two week low of $322.10 and a fifty-two week high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The business has a 50-day moving average of $350.91 and a 200 day moving average of $365.44.

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

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.37%. Everest Group’s payout ratio is 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.