Wealthfront Advisers LLC Sells 1,795 Shares of Everest Group, Ltd. (NYSE:EG)

Wealthfront Advisers LLC lowered its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 49.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,862 shares of the company's stock after selling 1,795 shares during the period. Wealthfront Advisers LLC's holdings in Everest Group were worth $677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Poehling Capital Management INC. bought a new stake in Everest Group in the 1st quarter valued at about $1,160,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Everest Group by 11.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock valued at $200,911,000 after buying an additional 56,410 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Everest Group by 16.0% during the first quarter. New York State Common Retirement Fund now owns 44,703 shares of the company's stock worth $16,242,000 after buying an additional 6,160 shares during the period. Xponance Inc. grew its holdings in Everest Group by 0.9% in the 1st quarter. Xponance Inc. now owns 7,196 shares of the company's stock worth $2,615,000 after buying an additional 67 shares in the last quarter. Finally, Croban acquired a new stake in Everest Group in the 1st quarter valued at approximately $788,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Down 1.2%

NYSE EG traded down $3.88 during trading on Thursday, hitting $331.99. 238,063 shares of the company traded hands, compared to its average volume of 317,179. The company has a market capitalization of $14.12 billion, a P/E ratio of 17.08, a PEG ratio of 0.26 and a beta of 0.51. The business has a fifty day simple moving average of $338.96 and a 200 day simple moving average of $347.09. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business earned $16.32 EPS. The company's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio is 41.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EG shares. Wells Fargo & Company set a $362.00 price target on Everest Group and gave the company an "equal weight" rating in a report on Thursday, July 10th. Barclays increased their price target on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Evercore ISI decreased their target price on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Janney Montgomery Scott initiated coverage on shares of Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 price target for the company. Finally, UBS Group lowered their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Everest Group has an average rating of "Moderate Buy" and an average target price of $400.83.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were bought at an average cost of $337.97 per share, with a total value of $337,970.00. Following the transaction, the chief executive officer directly owned 25,618 shares in the company, valued at approximately $8,658,115.46. This represents a 4.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

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.