Candriam S.C.A. Sells 1,886 Shares of Everest Group, Ltd. $EG

Key Points

• Candriam S.C.A. reduced its stake in Everest Group, Ltd. by 35.3%, selling 1,886 shares during the 1st quarter, leaving them with 3,454 shares valued at approximately $1.25 million.
• Institutional investors control 92.64% of Everest Group's stock, with several firms making significant investments, such as Korea Investment CORP increasing its stake by 130.4%.
• Recent analyst ratings for Everest Group include a buy rating and price targets ranging from $350 to $425, indicating a generally positive outlook despite a slight reduction in some target prices.

Candriam S.C.A. decreased its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,454 shares of the company's stock after selling 1,886 shares during the quarter. Candriam S.C.A.'s holdings in Everest Group were worth $1,255,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Credit Agricole S A increased its holdings in shares of Everest Group by 1.7% during the 1st quarter. Credit Agricole S A now owns 14,301 shares of the company's stock worth $5,196,000 after purchasing an additional 240 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Everest Group by 3.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company's stock valued at $372,000 after acquiring an additional 30 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Everest Group by 15.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 47,453 shares of the company's stock valued at $17,241,000 after acquiring an additional 6,293 shares during the period. Korea Investment CORP increased its stake in Everest Group by 130.4% in the first quarter. Korea Investment CORP now owns 62,093 shares of the company's stock valued at $22,560,000 after acquiring an additional 35,145 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Everest Group by 4.5% during the first quarter. Northern Trust Corp now owns 438,236 shares of the company's stock worth $159,224,000 after buying an additional 18,755 shares in the last quarter. Institutional investors own 92.64% of the company's stock.

Analysts Set New Price Targets

EG has been the subject of several recent analyst reports. Janney Montgomery Scott started coverage on shares of Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Morgan Stanley lifted their price target on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wells Fargo & Company restated a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Cantor Fitzgerald upgraded shares of Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Everest Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $397.14.

Insider Transactions at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of Everest Group stock in a transaction dated Wednesday, June 11th. The stock was purchased at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the purchase, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Everest Group Trading Down 1.3%

NYSE:EG opened at $343.6270 on Friday. The firm's fifty day moving average is $335.42 and its 200-day moving average is $343.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The firm has a market cap of $14.41 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.25 and a beta of 0.50.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, beating the consensus estimate of $15.14 by $2.22. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $16.85 earnings per share. Equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 3rd. Everest Group's dividend payout ratio (DPR) is 42.46%.

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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