Everest Group, Ltd. $EG Stock Position Lowered by HighTower Advisors LLC

HighTower Advisors LLC decreased its position in Everest Group, Ltd. (NYSE:EG) by 33.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,634 shares of the company’s stock after selling 1,329 shares during the period. HighTower Advisors LLC’s holdings in Everest Group were worth $957,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its stake in Everest Group by 2.7% during the 1st quarter. Public Sector Pension Investment Board now owns 11,447 shares of the company’s stock valued at $4,159,000 after purchasing an additional 303 shares during the period. Independent Advisor Alliance raised its stake in Everest Group by 5.5% during the 1st quarter. Independent Advisor Alliance now owns 1,199 shares of the company’s stock valued at $436,000 after purchasing an additional 63 shares during the period. Donald Smith & CO. Inc. raised its stake in Everest Group by 29.4% during the 1st quarter. Donald Smith & CO. Inc. now owns 201,189 shares of the company’s stock valued at $73,098,000 after purchasing an additional 45,749 shares during the period. Nuveen LLC acquired a new stake in Everest Group during the 1st quarter valued at $137,418,000. Finally, Aigen Investment Management LP acquired a new stake in Everest Group during the 1st quarter valued at $1,296,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the purchase, the chief executive officer directly owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EG. Citigroup began coverage on shares of Everest Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $362.00 target price on the stock. Evercore ISI cut their target price on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a research report on Thursday, May 1st. Raymond James Financial reiterated a “strong-buy” rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company reiterated a “mixed” rating on shares of Everest Group in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and an average target price of $397.14.

Everest Group Stock Performance

Shares of EG opened at $343.57 on Thursday. The company’s fifty day moving average is $335.79 and its 200-day moving average is $343.43. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 0.25 and a beta of 0.50. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping the consensus estimate of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the business posted $16.85 EPS. Everest Group’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. Everest Group’s dividend payout ratio is 42.46%.

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.