42,340 Shares in Everest Group, Ltd. (NYSE:EG) Acquired by Philadelphia Financial Management of San Francisco LLC

Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 42,340 shares of the company’s stock, valued at approximately $16,590,000. Everest Group comprises about 2.6% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 10th biggest position.

Several other large investors have also modified their holdings of EG. American National Bank acquired a new stake in Everest Group in the 2nd quarter valued at approximately $27,000. M&R Capital Management Inc. acquired a new stake in shares of Everest Group in the third quarter valued at $29,000. Bruce G. Allen Investments LLC raised its holdings in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank acquired a new position in Everest Group during the 3rd quarter worth about $35,000. Finally, Brooklyn Investment Group purchased a new position in Everest Group during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Activity

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. 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 NYSE EG opened at $385.42 on Wednesday. The stock’s 50-day simple moving average is $380.79 and its 200-day simple moving average is $381.03. The firm has a market capitalization of $16.57 billion, a PE ratio of 6.03, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $408.71. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.08%. Everest Group’s payout ratio is currently 12.52%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EG shares. UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. BMO Capital Markets cut their price objective on Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. TD Cowen decreased their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Wells Fargo & Company cut their price target on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Everest Group currently has an average rating of “Hold” and an average price target of $431.30.

About Everest Group

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.