Bank of New York Mellon Corp Lowers Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Bank of New York Mellon Corp cut its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 5.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 255,526 shares of the company's stock after selling 13,914 shares during the quarter. Bank of New York Mellon Corp owned 0.53% of Everest Group worth $92,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in Everest Group during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Everest Group in the 4th quarter worth about $31,000. Tsfg LLC purchased a new position in shares of Everest Group in the 1st quarter worth about $33,000. Optiver Holding B.V. purchased a new position in shares of Everest Group in the 4th quarter worth about $51,000. Finally, Bruce G. Allen Investments LLC grew its stake in shares of Everest Group by 79.1% during the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock valued at $56,000 after purchasing an additional 68 shares during the period. 92.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EG. Barclays upped their price objective on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wells Fargo & Company increased their price target on Everest Group from $361.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Thursday. UBS Group dropped their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Finally, Evercore ISI dropped their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $400.83.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson acquired 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was purchased at an average cost of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer owned 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company's stock.

Everest Group Stock Down 0.4%

Everest Group stock traded down $1.27 during mid-day trading on Friday, hitting $339.18. 294,103 shares of the company's stock were exchanged, compared to its average volume of 405,015. The stock has a market cap of $14.43 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.27 and a beta of 0.51. The stock has a 50 day moving average of $341.09 and a two-hundred day moving average of $348.85. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25.

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). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $16.32 EPS. The business's revenue was up 3.1% on a year-over-year basis. As a group, analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date 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.