Main Street Financial Solutions LLC Acquires New Position in Everest Group, Ltd. (NYSE:EG)

Main Street Financial Solutions LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 667 shares of the company’s stock, valued at approximately $261,000.

Several other large investors have also added to or reduced their stakes in the company. Csenge Advisory Group increased its holdings in Everest Group by 2.2% in the 2nd quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock valued at $472,000 after acquiring an additional 27 shares during the last quarter. Legend Financial Advisors Inc. boosted its position in shares of Everest Group by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock valued at $672,000 after buying an additional 27 shares during the period. Wedmont Private Capital boosted its holdings in Everest Group by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after acquiring an additional 29 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after purchasing an additional 31 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in Everest Group by 4.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 745 shares of the company’s stock worth $284,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the sale, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the transaction, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Everest Group Price Performance

Shares of Everest Group stock opened at $366.26 on Friday. The business has a 50 day simple moving average of $381.24 and a two-hundred day simple moving average of $380.50. The stock has a market capitalization of $15.74 billion, a P/E ratio of 5.73, a PEG ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.18%. Everest Group’s dividend payout ratio is presently 12.52%.

Analysts Set New Price Targets

Several research firms have recently commented on EG. Bank of America reduced 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. Keefe, Bruyette & Woods lowered their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their target price on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, TD Cowen cut their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and an average target price of $435.18.

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.