Bright Futures Wealth Management LLC. Trims Stock Position in Everest Group, Ltd. (NYSE:EG)

Bright Futures Wealth Management LLC. lessened its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 63.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,628 shares of the company's stock after selling 2,850 shares during the period. Bright Futures Wealth Management LLC.'s holdings in Everest Group were worth $558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in Everest Group during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in Everest Group in the 4th quarter worth $31,000. Optiver Holding B.V. bought a new position in shares of Everest Group during the 4th quarter valued at about $51,000. Bruce G. Allen Investments LLC grew its position in shares of Everest Group by 79.1% during the first 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 in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company's stock worth $71,000 after purchasing an additional 64 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group decreased their target price on Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Wells Fargo & Company lowered their target price 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. Barclays reduced their price target on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Janney Montgomery Scott assumed coverage on shares of Everest Group in a research note on Friday, June 20th. They set a "buy" rating and a $425.00 price target on the stock. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $400.33.

Insider Activity

In related news, CEO James Allan Williamson bought 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 completion of the purchase, the chief executive officer now owns 25,618 shares of the company's stock, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Everest Group Trading Down 1.3%

EG stock traded down $4.35 during mid-day trading on Wednesday, reaching $336.48. 273,341 shares of the stock traded hands, compared to its average volume of 401,350. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The stock has a market capitalization of $14.31 billion, a PE ratio of 17.31, a PEG ratio of 0.27 and a beta of 0.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. The business has a 50-day moving average price of $344.37 and a two-hundred day moving average price of $350.54.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The firm had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the prior year, the firm posted $16.32 earnings per share. Everest Group's revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.38%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

About Everest Group

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.