Everest Group, Ltd. (NYSE:EG) Stake Reduced by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. cut its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,800 shares of the company's stock after selling 2,200 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Everest Group were worth $5,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EG. Wedge Capital Management L L P NC raised its holdings in Everest Group by 14.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company's stock worth $3,586,000 after buying an additional 1,235 shares during the period. JPMorgan Chase & Co. raised its holdings in Everest Group by 39.9% during the 4th quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company's stock worth $39,789,000 after buying an additional 31,306 shares during the period. Merit Financial Group LLC acquired a new stake in Everest Group during the 1st quarter worth about $512,000. Commonwealth Equity Services LLC raised its holdings in Everest Group by 25.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company's stock worth $4,369,000 after buying an additional 2,438 shares during the period. Finally, Brandywine Global Investment Management LLC raised its holdings in Everest Group by 108.5% during the 4th quarter. Brandywine Global Investment Management LLC now owns 12,423 shares of the company's stock worth $4,503,000 after buying an additional 6,466 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EG has been the topic of several recent analyst reports. UBS Group cut their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Raymond James Financial reiterated a "strong-buy" rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Barclays dropped their target price on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Evercore ISI dropped their target price 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. Finally, Wells Fargo & Company dropped their target price on Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Everest Group has an average rating of "Moderate Buy" and a consensus price target of $398.09.

Everest Group Trading Down 1.7%

Shares of NYSE EG opened at $333.27 on Wednesday. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.26 and a beta of 0.53. The business has a 50 day simple moving average of $345.75 and a 200 day simple moving average of $352.09. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35.

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

Everest Group Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.40%. Everest Group's payout ratio is currently 41.15%.

Insiders Place Their Bets

In related news, CEO James Allan Williamson bought 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

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.

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