Nuveen Asset Management LLC Sells 175,875 Shares of Everest Group, Ltd. (NYSE:EG)

Nuveen Asset Management LLC decreased its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 22.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 596,955 shares of the company's stock after selling 175,875 shares during the quarter. Nuveen Asset Management LLC owned 1.39% of Everest Group worth $216,372,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in Everest Group by 152.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company's stock worth $8,225,000 after buying an additional 13,687 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Everest Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company's stock valued at $21,117,000 after purchasing an additional 2,818 shares in the last quarter. JPMorgan Chase & Co. raised its position in Everest Group by 39.9% in the 4th quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company's stock worth $39,789,000 after purchasing an additional 31,306 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Everest Group by 25.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company's stock valued at $4,369,000 after purchasing an additional 2,438 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in Everest Group by 108.5% in the fourth quarter. Brandywine Global Investment Management LLC now owns 12,423 shares of the company's stock valued at $4,503,000 after acquiring an additional 6,466 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Insider Activity

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group 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 completion of the sale, the director now owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Everest Group Stock Performance

Shares of EG stock traded down $5.73 on Wednesday, reaching $341.78. The stock had a trading volume of 102,822 shares, compared to its average volume of 380,693. 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 firm's 50-day moving average is $351.33 and its two-hundred day moving average is $356.72. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion for 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%. The business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $16.32 EPS. On average, research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company 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 dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Wednesday, May 28th. Everest Group's dividend payout ratio is presently 41.15%.

Analysts Set New Price Targets

Several research firms have recently issued reports on EG. Barclays decreased their target price on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Evercore ISI lowered their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods decreased their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $398.09.

Everest Group Company 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.