R Squared Ltd Takes Position in Everest Group, Ltd. (NYSE:EG)

R Squared Ltd bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 570 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds have also added to or reduced their stakes in EG. M&R Capital Management Inc. acquired a new stake in shares of Everest Group during the 3rd quarter worth approximately $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 valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank bought a new stake in Everest Group in the 3rd quarter valued at about $35,000. Brooklyn Investment Group acquired a new position in Everest Group during the 3rd quarter worth approximately $39,000. Finally, American National Bank & Trust boosted its holdings in Everest Group by 80.0% in the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after acquiring an additional 56 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Insider Activity at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This trade 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EG shares. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. TD Cowen decreased their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Bank of America dropped their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, BMO Capital Markets raised shares of Everest Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $372.00 to $453.00 in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $431.22.

Everest Group Trading Down 1.3 %

Shares of EG stock opened at $368.24 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.47 and a beta of 0.65. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $407.30. The company has a 50-day simple moving average of $367.33 and a two-hundred day simple moving average of $376.04.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Everest Group’s payout ratio is 12.52%.

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.