UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Holdings in Everest Group, Ltd. $EG

Key Points

• UBS Asset Management cut its Everest Group stake by 99.4% in the second quarter, selling 313,891 shares and retaining 1,761 shares valued at approximately $629,000.
• Institutional ownership remains substantial at 92.64%, with several investors—including Bank of America and Northwestern Mutual—adding to their positions.
• Analysts have a consensus “Hold” rating and an average price target of $395.27, while Everest Group reported quarterly EPS of $14.85 and declared a quarterly dividend of $2.00 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 99.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,761 shares of the company's stock after selling 313,891 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Everest Group were worth $629,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Algebris UK Ltd. purchased a new stake in shares of Everest Group in the fourth quarter worth about $23,460,000. Bank of America Corp DE grew its stake in Everest Group by 7.7% during the first quarter. Bank of America Corp DE now owns 233,326 shares of the company's stock valued at $76,263,000 after acquiring an additional 16,701 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Everest Group by 12,322.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock worth $176,205,000 after acquiring an additional 515,063 shares during the period. National Pension Service increased its holdings in Everest Group by 13.2% during the 4th quarter. National Pension Service now owns 44,113 shares of the company's stock worth $14,970,000 after acquiring an additional 5,157 shares during the period. Finally, SEB Asset Management AB purchased a new stake in Everest Group in the 1st quarter worth approximately $36,615,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EG shares. Evercore set a $377.00 price target on shares of Everest Group in a report on Thursday, July 30th. Atlantic Securities set a $484.00 price objective on Everest Group in a research report on Wednesday, July 15th. Wells Fargo & Company lifted their price objective on Everest Group from $373.00 to $396.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Mizuho reduced their target price on Everest Group from $418.00 to $416.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Finally, Citigroup upped their target price on Everest Group from $395.00 to $415.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, Everest Group has a consensus rating of "Hold" and an average target price of $395.27.

Everest Group Stock Up 0.1%

Shares of NYSE:EG opened at $372.22 on Monday. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $401.07. The firm has a fifty day moving average of $374.65 and a 200 day moving average of $351.28. The firm has a market capitalization of $14.27 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.73 and a beta of 0.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The business had revenue of $3.96 billion for the quarter. As a group, research analysts anticipate that Everest Group, Ltd. will post 53.2 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group's dividend payout ratio (DPR) is currently 16.92%.

Everest Group Profile

Everest Group, Ltd. NYSE: EG is a global insurance and reinsurance company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides property and casualty insurance and reinsurance products to businesses, insurers and other institutional clients.

Everest's reinsurance operations cover a range of property, casualty and specialty risks, while its insurance business offers commercial coverage in areas such as property, casualty, specialty, marine, accident and health.

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