Geode Capital Management LLC Boosts Holdings in Everest Group, Ltd. (NYSE:EG)

Geode Capital Management LLC increased its holdings in Everest Group, Ltd. (NYSE:EG) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,155,760 shares of the company’s stock after purchasing an additional 16,180 shares during the quarter. Geode Capital Management LLC owned 2.69% of Everest Group worth $453,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. American National Bank purchased a new position in shares of Everest Group during the second quarter valued at approximately $27,000. M&R Capital Management Inc. bought a new stake in Everest Group during the third quarter worth about $29,000. Bruce G. Allen Investments LLC grew its stake in shares of 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 buying an additional 52 shares during the last quarter. Eastern Bank bought a new position in shares of Everest Group during the third quarter valued at $35,000. Finally, Brooklyn Investment Group purchased a new position in Everest Group in the third quarter worth about $39,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. acquired 2,870 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the transaction, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on EG. Wells Fargo & Company dropped their price objective on Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Barclays decreased their price target on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $430.10.

Everest Group Price Performance

Everest Group stock opened at $362.62 on Friday. 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 stock has a market cap of $15.59 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm has a 50-day moving average of $377.52 and a two-hundred day moving average of $380.03. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $407.30.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $2.00 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.21%. Everest Group’s dividend payout ratio (DPR) is currently 12.52%.

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.