KBC Group NV Trims Stake in Everest Group, Ltd. (NYSE:EG)

KBC Group NV trimmed its position in Everest Group, Ltd. (NYSE:EG) by 65.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,560 shares of the company’s stock after selling 110,964 shares during the quarter. KBC Group NV’s holdings in Everest Group were worth $21,226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. M&R Capital Management Inc. acquired a new stake in Everest Group in the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Eastern Bank acquired a new stake in shares of Everest Group in the 3rd quarter worth $35,000. Brooklyn Investment Group purchased a new position in Everest Group during the 3rd quarter worth $39,000. Finally, American National Bank & Trust increased its position in Everest Group by 80.0% during the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Activity at Everest Group

In related news, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $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. Company insiders own 1.20% of the company’s stock.

Everest Group Price Performance

Shares of EG opened at $368.24 on Wednesday. The business’s 50-day moving average is $367.33 and its two-hundred day moving average is $376.04. The company has a market capitalization of $15.83 billion, a P/E ratio of 5.76, a P/E/G ratio of 2.47 and a beta of 0.65. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $407.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is 12.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EG shares. Keefe, Bruyette & Woods boosted their price target on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. BMO Capital Markets raised shares of Everest Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $372.00 to $453.00 in a research report on Friday, January 10th. Bank of America decreased 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. Wells Fargo & Company dropped 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. Finally, UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and an average price target of $431.22.

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.