Everest Group, Ltd. (NYSE:EG) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Everest Group, Ltd. (NYSE:EG) by 442.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 308,155 shares of the company’s stock after acquiring an additional 251,337 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Everest Group were worth $120,744,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. American National Bank acquired a new position in Everest Group in the 2nd quarter valued at $27,000. M&R Capital Management Inc. purchased a new stake in shares of Everest Group during the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC grew its stake in shares of Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank purchased a new stake in shares of Everest Group during the 3rd quarter valued at $35,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Everest Group during the 3rd quarter valued at $39,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Barclays decreased 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. Wells Fargo & Company decreased their price target on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, BMO Capital Markets decreased their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $431.30.

Everest Group Stock Performance

Shares of EG stock opened at $387.56 on Monday. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $413.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $16.66 billion, a P/E ratio of 6.07, a P/E/G ratio of 2.87 and a beta of 0.63. The company’s fifty day moving average price is $380.80 and its two-hundred day moving average price is $381.07.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%. Everest Group’s dividend payout ratio is currently 12.52%.

Insiders Place Their Bets

In other news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $348.64 per share, for a total transaction 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 position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

About Everest Group

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.