Sei Investments Co. Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

Sei Investments Co. lifted its position in Everest Group, Ltd. (NYSE:EG) by 34.8% in the fourth quarter, Holdings Channel reports. The firm owned 138,935 shares of the company’s stock after buying an additional 35,904 shares during the period. Sei Investments Co.’s holdings in Everest Group were worth $50,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. World Investment Advisors LLC purchased a new stake in shares of Everest Group in the 3rd 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% in 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 valued at $120,744,000 after acquiring an additional 251,337 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Everest Group in the fourth quarter worth about $48,290,000. Truist Financial Corp grew its holdings in Everest Group by 7,580.7% during the 4th quarter. Truist Financial Corp now owns 92,936 shares of the company’s stock worth $33,686,000 after acquiring an additional 91,726 shares in the last quarter. Finally, FMR LLC increased its position in 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 purchasing an additional 72,822 shares during the period. Institutional investors own 92.64% of the company’s stock.

Everest Group Trading Down 0.5 %

Shares of NYSE:EG opened at $353.19 on Monday. 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 $327.37 and a 52-week high of $407.30. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.24 and a beta of 0.61. The business has a 50-day moving average price of $350.90 and a 200-day moving average price of $367.09.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Equities analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the sale, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

EG has been the subject of several research reports. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. 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 report on Friday, January 10th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Wells Fargo & Company reduced their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $416.50.

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.