USS Investment Management Ltd Sells 3,722 Shares of Everest Group, Ltd. (NYSE:EG)

USS Investment Management Ltd decreased its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Everest Group by 0.8% in the fourth 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 acquired a new stake in shares of Everest Group in the 4th quarter valued at $488,588,000. Franklin Resources Inc. boosted its holdings in Everest Group by 0.4% in the fourth 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 in the last quarter. Geode Capital Management LLC increased its position 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 increased its position 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. Institutional investors and hedge funds own 92.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EG shares. Morgan Stanley upped their target price on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Barclays cut their target price on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Raymond James reaffirmed a "strong-buy" rating and issued a $410.00 price target (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Six research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $398.09.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Everest Group Trading Down 1.8%

EG traded down $6.31 during mid-day trading on Wednesday, reaching $335.45. The stock had a trading volume of 423,905 shares, compared to its average volume of 384,624. The firm's fifty day simple moving average is $349.25 and its two-hundred day simple moving average is $355.97. The stock has a market capitalization of $14.27 billion, a P/E ratio of 10.68, a P/E/G ratio of 0.24 and a beta of 0.58. 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 0.26, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results 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 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 7.95% and a return on equity of 9.04%. Everest Group's revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $16.32 EPS. On average, equities analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, May 28th. Everest Group's dividend payout ratio is 41.15%.

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.