Bank of America Corp DE Has $55.48 Million Holdings in Everest Group, Ltd. (NYSE:EG)

Bank of America Corp DE decreased its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,055 shares of the company's stock after selling 64,864 shares during the period. Bank of America Corp DE owned 0.36% of Everest Group worth $55,476,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EG. Dakota Wealth Management raised its holdings in Everest Group by 1.7% in the 4th quarter. Dakota Wealth Management now owns 1,945 shares of the company's stock valued at $705,000 after acquiring an additional 32 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Everest Group by 19.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock valued at $71,000 after buying an additional 32 shares during the period. Steph & Co. raised its stake in shares of Everest Group by 10.6% in the 4th quarter. Steph & Co. now owns 366 shares of the company's stock valued at $133,000 after buying an additional 35 shares in the last quarter. Lester Murray Antman dba SimplyRich boosted its position in shares of Everest Group by 2.7% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company's stock valued at $481,000 after acquiring an additional 35 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its position in Everest Group by 5.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 661 shares of the company's stock worth $239,000 after purchasing an additional 37 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

Shares of EG stock opened at $346.84 on Wednesday. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average of $352.23 and a 200-day moving average of $357.52.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The firm's revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $16.32 earnings per share. On average, equities research analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.31%. Everest Group's payout ratio is 41.15%.

Wall Street Analyst Weigh In

Several analysts recently commented on EG shares. BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Keefe, Bruyette & Woods cut their price target on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and raised their price target for the company from $376.00 to $415.00 in a report on Friday, April 11th. Finally, Raymond James restated a "strong-buy" rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $397.18.

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated 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 of the company's stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

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.

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