Martingale Asset Management L P Reduces Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Martingale Asset Management L P lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 60,247 shares of the company’s stock after selling 2,396 shares during the quarter. Martingale Asset Management L P owned 0.14% of Everest Group worth $23,607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American National Bank purchased a new position in Everest Group during the second quarter worth $27,000. M&R Capital Management Inc. purchased a new position in Everest Group during the third quarter worth $29,000. Bruce G. Allen Investments LLC boosted its stake in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares during the period. Eastern Bank purchased a new position in Everest Group during the third quarter worth $35,000. Finally, Brooklyn Investment Group purchased a new position in Everest Group during the third quarter worth $39,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. bought 2,870 shares of Everest Group stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now directly owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

Everest Group Stock Up 0.9 %

NYSE:EG opened at $389.00 on Friday. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.04. The company has a 50-day moving average of $380.79 and a 200 day moving average of $380.95. The firm has a market cap of $16.72 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 2.88 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Wall Street Analysts Forecast Growth

EG has been the subject of several recent analyst reports. BMO Capital Markets dropped their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Barclays lowered their target price on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the company from $420.00 to $429.00 in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $431.30.

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.