HighTower Advisors LLC Has $923,000 Stock Position in Everest Group, Ltd. (NYSE:EG)

HighTower Advisors LLC cut its holdings in Everest Group, Ltd. (NYSE:EG) by 38.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,349 shares of the company’s stock after selling 1,465 shares during the quarter. HighTower Advisors LLC’s holdings in Everest Group were worth $923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank acquired a new stake in shares of Everest Group in the 2nd quarter valued at about $27,000. M&R Capital Management Inc. acquired a new stake in Everest Group in the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC increased its holdings in shares of Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after acquiring an additional 52 shares in the last quarter. Eastern Bank acquired a new position in shares of Everest Group during the third quarter worth approximately $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of Everest Group during the third quarter worth approximately $39,000. 92.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the purchase, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Everest Group Price Performance

Shares of NYSE:EG opened at $354.94 on Wednesday. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $15.25 billion, a P/E ratio of 5.56, a P/E/G ratio of 2.69 and a beta of 0.64. The company has a 50 day moving average of $376.33 and a 200 day moving average of $379.53.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.25%. Everest Group’s payout ratio is currently 12.52%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Barclays cut their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Bank of America decreased their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. TD Cowen dropped their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $430.00.

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.