Swiss National Bank Sells 100 Shares of Everest Group, Ltd. (NYSE:EG)

Swiss National Bank cut its stake in Everest Group, Ltd. (NYSE:EG) by 0.1% during the third quarter, HoldingsChannel reports. The fund owned 128,800 shares of the company’s stock after selling 100 shares during the quarter. Swiss National Bank’s holdings in Everest Group were worth $50,468,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans grew its stake in Everest Group by 27.8% in the third quarter. Thrivent Financial for Lutherans now owns 29,559 shares of the company’s stock valued at $11,582,000 after purchasing an additional 6,430 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Everest Group by 17.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 19,962 shares of the company’s stock valued at $7,822,000 after buying an additional 2,900 shares in the last quarter. Mizuho Securities USA LLC grew its position in shares of Everest Group by 12,263.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after buying an additional 412,040 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Everest Group by 290.5% during the 3rd quarter. Empowered Funds LLC now owns 9,622 shares of the company’s stock worth $3,770,000 after acquiring an additional 7,158 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Everest Group by 7.9% during the third quarter. CIBC Asset Management Inc now owns 6,309 shares of the company’s stock valued at $2,472,000 after acquiring an additional 460 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EG. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price target on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group increased their price objective on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets dropped their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Everest Group has a consensus rating of “Moderate Buy” and a consensus price target of $434.10.

Insider Buying and Selling at Everest Group

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Everest Group Stock Up 1.7 %

EG stock opened at $376.87 on Thursday. The company has a market capitalization of $16.20 billion, a P/E ratio of 5.90, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The firm’s fifty day simple moving average is $380.51 and its 200-day simple moving average is $380.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio is currently 12.52%.

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.