Nisa Investment Advisors LLC Sells 1,160 Shares of Everest Group, Ltd. (NYSE:EG)

Nisa Investment Advisors LLC cut its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,151 shares of the company's stock after selling 1,160 shares during the quarter. Nisa Investment Advisors LLC's holdings in Everest Group were worth $4,778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EG. Vanguard Group Inc. boosted its holdings 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 last quarter. Norges Bank bought a new position in Everest Group during the fourth quarter worth about $488,588,000. Franklin Resources Inc. boosted its holdings in Everest Group by 0.4% during the fourth 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 boosted its holdings in Everest Group by 0.7% during the fourth 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 boosted its holdings in Everest Group by 279.1% during 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 last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley raised their target price on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Evercore ISI reduced 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. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and raised their target price for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Barclays raised their target price on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, UBS Group cut their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday. Six 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $400.83.

Insider Transactions at Everest Group

In other news, CEO James Allan Williamson bought 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average price 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 $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 midday trading on Friday, reaching $339.18. The stock had a trading volume of 294,103 shares, compared to its average volume of 405,015. The firm's fifty day simple moving average is $341.09 and its 200-day simple moving average is $348.85. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The stock has a market capitalization of $14.43 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 0.27 and a beta of 0.51. 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 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 analyst estimates of $3.89 billion. During the same period in the prior year, the business posted $16.32 EPS. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were given a $2.00 dividend. 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 presently 41.15%.

Everest Group 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.