Lazard Asset Management LLC Sells 34,558 Shares of Everest Group, Ltd. (NYSE:EG)

Lazard Asset Management LLC lowered its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 55.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,296 shares of the company's stock after selling 34,558 shares during the period. Lazard Asset Management LLC owned approximately 0.07% of Everest Group worth $10,255,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Everest Group during the fourth quarter worth about $31,000. Optiver Holding B.V. acquired a new stake in Everest Group during the 4th quarter valued at approximately $51,000. Wilmington Savings Fund Society FSB increased its holdings in Everest Group by 19.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock worth $71,000 after purchasing an additional 32 shares during the last quarter. Private Trust Co. NA raised its position in shares of Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company's stock valued at $71,000 after purchasing an additional 64 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company's stock valued at $76,000 after purchasing an additional 64 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now directly owns 12,279 shares of the company's stock, valued at approximately $4,428,175.77. This represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Everest Group Stock Performance

EG traded down $0.85 during trading on Monday, reaching $347.23. 167,604 shares of the company's stock were exchanged, compared to its average volume of 380,217. The company has a market capitalization of $14.77 billion, a P/E ratio of 11.05, a PEG 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. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The business has a 50 day moving average price of $351.38 and a 200 day moving average price of $356.81.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data 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). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business posted $16.32 earnings per share. The firm's revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Analyst Ratings Changes

EG has been the topic of several recent analyst reports. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and cut their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley increased their target price on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday. Wells Fargo & Company reduced their price objective on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Finally, Barclays dropped their price target on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $398.09.

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.