Everest Group, Ltd. (NYSE:EG) Position Decreased by USS Investment Management Ltd

USS Investment Management Ltd reduced its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 49.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,853 shares of the company's stock after selling 3,722 shares during the quarter. USS Investment Management Ltd's holdings in Everest Group were worth $1,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Everest Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after acquiring an additional 43,793 shares in the last quarter. Norges Bank purchased a new position in Everest Group during the 4th quarter worth $488,588,000. Franklin Resources Inc. grew its position 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 purchasing an additional 4,544 shares during the last quarter. Geode Capital Management LLC grew its position 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 purchasing an additional 8,321 shares during the last quarter. Finally, Vulcan Value Partners LLC grew its position in Everest Group by 279.1% during the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock worth $354,768,000 after purchasing an additional 720,572 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EG. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays lowered their price objective on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $376.00 to $415.00 in a report on Friday, April 11th. Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Wells Fargo & Company lowered their target price on shares of 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 research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Everest Group presently has a consensus rating of "Moderate Buy" and an average price target of $398.09.

Everest Group Trading Up 1.5%

Shares of NYSE:EG traded up $4.98 during trading on Thursday, reaching $340.57. The stock had a trading volume of 209,121 shares, compared to its average volume of 384,715. The business has a fifty day moving average price of $348.89 and a 200-day moving average price of $355.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a market cap of $14.49 billion, a P/E ratio of 10.84, a PEG ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last released 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%. Everest Group's revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $16.32 EPS. As a group, analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.35%. Everest Group's dividend payout ratio (DPR) is 41.15%.

Insiders Place Their Bets

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the sale, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.