MML Investors Services LLC Increases Stock Position in Everest Group, Ltd. (NYSE:EG)

MML Investors Services LLC boosted its position in shares of Everest Group, Ltd. (NYSE:EG) by 35.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,143 shares of the company’s stock after acquiring an additional 297 shares during the period. MML Investors Services LLC’s holdings in Everest Group were worth $448,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&R Capital Management Inc. purchased a new position in shares of Everest Group in the 3rd quarter valued at about $29,000. Bruce G. Allen Investments LLC grew its holdings in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares during the period. Eastern Bank purchased a new stake in shares of Everest Group in the third quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new position in shares of Everest Group during the 3rd quarter worth approximately $39,000. Finally, American National Bank & Trust raised its stake in shares of Everest Group by 80.0% during the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the transaction, the director now directly 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 disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EG shares. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Barclays reduced their price target on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. UBS Group upgraded Everest Group to a “hold” rating in a report on Wednesday, October 9th. Bank of America reduced their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, BMO Capital Markets lowered their price target on Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and an average target price of $430.00.

Everest Group Stock Performance

Shares of Everest Group stock opened at $359.35 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50 day moving average price is $372.71 and its 200 day moving average price is $378.44. The company has a market cap of $15.44 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 2.69 and a beta of 0.64. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $407.30.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was 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.