Alliancebernstein L.P. Has $67.03 Million Position in Everest Group, Ltd. (NYSE:EG)

Alliancebernstein L.P. decreased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 10.6% in the 4th quarter, HoldingsChannel reports. The firm owned 184,933 shares of the company’s stock after selling 22,035 shares during the period. Alliancebernstein L.P.’s holdings in Everest Group were worth $67,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in shares of 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 during the last quarter. JPMorgan Chase & Co. lifted its position in Everest Group by 19.5% during the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after acquiring an additional 12,791 shares during the last quarter. Brophy Wealth Management LLC bought a new stake in shares of Everest Group during the third quarter worth approximately $749,000. Principal Financial Group Inc. grew its position 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 during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Everest Group by 3.9% during the third quarter. Stifel Financial Corp now owns 4,347 shares of the company’s stock worth $1,704,000 after purchasing an additional 162 shares during the period. 92.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following 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 legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EG shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Barclays raised their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Everest Group has an average rating of “Hold” and a consensus price target of $416.50.

Everest Group Stock Down 0.9 %

NYSE EG opened at $361.92 on Friday. The business has a fifty day moving average price of $351.48 and a two-hundred day moving average price of $366.12. The stock has a market capitalization of $15.54 billion, a PE ratio of 11.52, a PEG ratio of 0.24 and a beta of 0.43. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

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.