Sumitomo Mitsui Trust Group Inc. Sells 1,753 Shares of Everest Group, Ltd. (NYSE:EG)

Sumitomo Mitsui Trust Group Inc. cut its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,410 shares of the company's stock after selling 1,753 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Everest Group worth $41,569,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Private Trust Co. NA grew its position in Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company's stock worth $71,000 after buying an additional 64 shares in the last quarter. Metis Global Partners LLC grew its position in Everest Group by 69.6% during the fourth quarter. Metis Global Partners LLC now owns 2,368 shares of the company's stock worth $858,000 after buying an additional 972 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Everest Group during the fourth quarter worth about $31,000. State of Michigan Retirement System grew its position in Everest Group by 0.8% during the fourth quarter. State of Michigan Retirement System now owns 12,911 shares of the company's stock worth $4,680,000 after buying an additional 100 shares in the last quarter. Finally, Assetmark Inc. grew its position in Everest Group by 1.4% during the fourth quarter. Assetmark Inc. now owns 415,638 shares of the company's stock worth $150,652,000 after buying an additional 5,649 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group cut 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. Wells Fargo & Company cut their price objective on Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Raymond James Financial reiterated a "strong-buy" rating and issued a $410.00 price objective (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Janney Montgomery Scott assumed coverage on Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $400.33.

Everest Group Trading Up 1.0%

Shares of NYSE EG traded up $3.45 during midday trading on Friday, reaching $337.48. The company had a trading volume of 295,283 shares, compared to its average volume of 403,905. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The firm's fifty day moving average price is $342.38 and its 200-day moving average price is $349.41. The stock has a market cap of $14.35 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share 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 company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the firm posted $16.32 EPS. The company's revenue was up 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Buying and Selling at Everest Group

In related news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the purchase, the chief executive officer owned 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company 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.