Everest Group, Ltd. (NYSE:EG) Stake Lessened by Cetera Investment Advisers

Cetera Investment Advisers lowered its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 47.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,771 shares of the company's stock after selling 2,483 shares during the quarter. Cetera Investment Advisers' holdings in Everest Group were worth $1,004,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Everest Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after acquiring an additional 43,793 shares during the period. Norges Bank acquired a new position in Everest Group during the 4th quarter valued at approximately $488,588,000. Franklin Resources Inc. grew its stake in Everest Group by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock worth $464,533,000 after buying an additional 4,544 shares during the last quarter. Geode Capital Management LLC grew its stake in Everest Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock worth $424,344,000 after buying an additional 8,321 shares during the last quarter. Finally, Vulcan Value Partners LLC increased its position in Everest Group by 279.1% in the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock worth $354,768,000 after buying an additional 720,572 shares during the period. Institutional investors own 92.64% of the company's stock.

Everest Group Price Performance

EG stock traded up $7.41 during trading hours on Tuesday, hitting $343.35. 356,475 shares of the stock traded hands, compared to its average volume of 384,467. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $349.48 and a 200 day simple moving average of $356.06. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The company has a market cap of $14.60 billion, a P/E ratio of 10.93, a P/E/G ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $16.32 EPS. Equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.33%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Analysts Set New Price Targets

Several equities analysts have recently commented on EG shares. Evercore ISI lowered their price target 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. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Keefe, Bruyette & Woods cut their price target on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. UBS Group decreased their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company lowered their target price on Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Everest Group currently has an average rating of "Moderate Buy" and an average price target of $398.09.

Insider Buying and Selling

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.10% of the company's stock.

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.