Nuveen Asset Management LLC Reduces Holdings in Everest Group, Ltd. (NYSE:EG)

Nuveen Asset Management LLC lowered its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 22.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 596,955 shares of the company's stock after selling 175,875 shares during the period. Nuveen Asset Management LLC owned about 1.39% of Everest Group worth $216,372,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Everest Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after purchasing an additional 43,793 shares in the last quarter. Norges Bank acquired a new stake in Everest Group in the fourth quarter valued at approximately $488,588,000. Franklin Resources Inc. increased its position in shares of Everest Group by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after buying an additional 4,544 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 8,321 shares during the period. Finally, Vulcan Value Partners LLC lifted its position in shares of Everest Group by 279.1% during the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after buying an additional 720,572 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction that occurred on 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 transaction, the director now directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. This represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Everest Group Trading Down 0.2%

Shares of EG traded down $0.68 during midday trading on Monday, reaching $347.40. The company had a trading volume of 280,222 shares, compared to its average volume of 380,520. The firm has a 50 day simple moving average of $351.38 and a 200-day simple moving average of $356.81. 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 $14.78 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share 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 analysts' expectations of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The company's revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $16.32 earnings per share. Research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. Everest Group's dividend payout ratio is currently 41.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EG shares. Wells Fargo & Company cut their price target on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. UBS Group cut their target price on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Evercore ISI reduced their price target on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods lowered their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $398.09.

Everest Group 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.