Swedbank AB Sells 54 Shares of Everest Group, Ltd. (NYSE:EG)

Swedbank AB reduced its stake in Everest Group, Ltd. (NYSE:EG) by 0.1% during the third quarter, HoldingsChannel.com reports. The firm owned 37,164 shares of the company’s stock after selling 54 shares during the quarter. Swedbank AB’s holdings in Everest Group were worth $14,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. American National Bank bought a new stake in Everest Group during the 2nd quarter valued at about $27,000. M&R Capital Management Inc. bought a new stake in shares of Everest Group during the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC raised its holdings in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 52 shares during the last quarter. Eastern Bank bought a new position in Everest Group in the 3rd quarter valued at approximately $35,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling

In other news, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares of the company’s stock, valued at $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 owned by insiders.

Everest Group Price Performance

NYSE EG opened at $387.59 on Wednesday. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 2.88 and a beta of 0.63. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.04. The company’s 50 day moving average is $380.79 and its two-hundred day moving average is $380.87. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.00 per share. 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 presently 12.52%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EG shares. Wells Fargo & Company lowered their price target on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. BMO Capital Markets lowered their target price on shares of 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. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $420.00 to $429.00 in a research note on Tuesday. Bank of America dropped their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, Barclays decreased their target price on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $431.30.

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.