Prana Capital Management LP Sells 59,596 Shares of Everest Group, Ltd. (NYSE:EG)

Prana Capital Management LP cut its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 38.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,285 shares of the company's stock after selling 59,596 shares during the period. Everest Group accounts for approximately 1.7% of Prana Capital Management LP's holdings, making the stock its 18th biggest holding. Prana Capital Management LP owned about 0.23% of Everest Group worth $35,262,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Dakota Wealth Management lifted its stake in Everest Group by 1.7% in the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company's stock valued at $705,000 after buying an additional 32 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Everest Group by 19.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock valued at $71,000 after acquiring an additional 32 shares during the last quarter. Steph & Co. raised its position in shares of Everest Group by 10.6% in the 4th quarter. Steph & Co. now owns 366 shares of the company's stock valued at $133,000 after acquiring an additional 35 shares during the period. Lester Murray Antman dba SimplyRich raised its position in shares of Everest Group by 2.7% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company's stock valued at $481,000 after acquiring an additional 35 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Everest Group by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company's stock worth $1,913,000 after acquiring an additional 36 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the firm'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 transaction, the director now owns 12,279 shares in the company, valued at $4,428,175.77. This trade represents a 10.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Everest Group Stock Down 0.0%

Shares of Everest Group stock traded down $0.01 during trading on Tuesday, reaching $347.56. The stock had a trading volume of 302,025 shares, compared to its average volume of 425,333. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.24 and a beta of 0.58. The stock has a fifty day moving average price of $351.37 and a two-hundred day moving average price of $356.78. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced 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). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the business posted $16.32 EPS. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. Sell-side analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.30%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Wall Street Analyst Weigh In

Several brokerages have commented on EG. Morgan Stanley upped their target price on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Keefe, Bruyette & Woods dropped their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Finally, Barclays lowered their price target on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Six equities research 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, Everest Group presently has a consensus rating of "Moderate Buy" and a consensus 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.