Tidal Investments LLC Lowers Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Tidal Investments LLC cut its holdings in Everest Group, Ltd. (NYSE:EG) by 29.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,225 shares of the company’s stock after selling 1,333 shares during the quarter. Tidal Investments LLC’s holdings in Everest Group were worth $1,264,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. American National Bank acquired a new position in Everest Group during the second quarter worth $27,000. M&R Capital Management Inc. purchased a new stake in shares of Everest Group during the third quarter worth about $29,000. Bruce G. Allen Investments LLC raised its position 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 worth $31,000 after purchasing an additional 52 shares during the last quarter. Eastern Bank purchased a new position in Everest Group in the 3rd quarter valued at about $35,000. Finally, Brooklyn Investment Group acquired a new stake in Everest Group in the 3rd quarter worth about $39,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Everest Group

In other Everest Group news, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % 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. purchased 2,870 shares of Everest Group stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $348.33 on Thursday. The firm has a 50 day simple moving average of $375.96 and a 200-day simple moving average of $379.27. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 5.45, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. 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 1-year low of $343.76 and a 1-year high of $407.30.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.30%. Everest Group’s dividend payout ratio (DPR) is 12.52%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays decreased their target price on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. BMO Capital Markets reduced their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. TD Cowen lowered their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, Wells Fargo & Company cut their price objective on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $430.00.

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.