Allspring Global Investments Holdings LLC Sells 18,211 Shares of Everest Group, Ltd. (NYSE:EG)

Allspring Global Investments Holdings LLC lowered its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 90.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,005 shares of the company's stock after selling 18,211 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Everest Group were worth $733,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in EG. Norges Bank acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $488,588,000. Vulcan Value Partners LLC grew its position in shares of Everest Group by 279.1% in the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after purchasing an additional 720,572 shares during the period. Sterling Capital Management LLC increased its stake in Everest Group by 11,756.0% during the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock worth $100,987,000 after purchasing an additional 276,266 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Everest Group by 14,518.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock worth $68,882,000 after acquiring an additional 188,740 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Everest Group by 31,899.6% in the first quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock valued at $63,364,000 after purchasing an additional 173,853 shares in the last quarter. Institutional investors own 92.64% of the company's stock.

Insider Activity

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average cost of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EG. Evercore ISI decreased their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Raymond James Financial restated a "strong-buy" rating and issued a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Wells Fargo & Company upped their target price on Everest Group from $361.00 to $362.00 and gave the stock an "equal weight" rating in a report on Thursday. Jefferies Financial Group upgraded 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 research note on Friday, April 11th. Finally, Morgan Stanley boosted their price target on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $400.83.

Everest Group Stock Performance

Shares of NYSE EG traded up $0.12 during mid-day trading on Thursday, reaching $340.31. 300,720 shares of the company were exchanged, compared to its average volume of 403,890. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The stock has a market capitalization of $14.48 billion, a P/E ratio of 17.51, a P/E/G ratio of 0.27 and a beta of 0.51. The company's 50-day simple moving average is $341.23 and its 200-day simple moving average is $349.14. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25.

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). The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The company's revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $16.32 EPS. As a group, research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio is currently 41.15%.

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.