Martingale Asset Management L P Reduces Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Martingale Asset Management L P lessened its position in shares of Everest Group, Ltd. (NYSE:EG) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,968 shares of the company’s stock after selling 5,279 shares during the period. Martingale Asset Management L P owned 0.13% of Everest Group worth $19,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Everest Group in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the third quarter valued at $64,000. Private Trust Co. NA grew its holdings in shares of Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after purchasing an additional 64 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Everest Group by 43.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after buying an additional 64 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on 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 approximately $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Everest Group Price Performance

Shares of EG stock opened at $330.89 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The firm has a market cap of $15.81 billion, a P/E ratio of 10.53, a P/E/G ratio of 0.24 and a beta of 0.43. The business’s 50 day moving average price is $348.81 and its 200-day moving average price is $364.37.

Everest Group (NYSE:EG) last released its quarterly earnings results 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 net margin of 7.95% and a return on equity of 9.04%. On average, equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current 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 paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, March 17th. Everest Group’s payout ratio is currently 25.47%.

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.