Skandinaviska Enskilda Banken AB publ Sells 5,157 Shares of Everest Group, Ltd. (NYSE:EG)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 32.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,536 shares of the company’s stock after selling 5,157 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Everest Group were worth $3,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in Everest Group by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 6,257 shares of the company’s stock worth $2,452,000 after acquiring an additional 76 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Everest Group by 7.9% in the third quarter. CIBC Asset Management Inc now owns 6,309 shares of the company’s stock worth $2,472,000 after acquiring an additional 460 shares in the last quarter. Empowered Funds LLC boosted its holdings in Everest Group by 290.5% in the third quarter. Empowered Funds LLC now owns 9,622 shares of the company’s stock worth $3,770,000 after acquiring an additional 7,158 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Everest Group by 17.0% in the third quarter. Mutual of America Capital Management LLC now owns 19,962 shares of the company’s stock worth $7,822,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Everest Group by 27.8% in the third quarter. Thrivent Financial for Lutherans now owns 29,559 shares of the company’s stock worth $11,582,000 after acquiring an additional 6,430 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays raised their price target on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Wells Fargo & Company reduced their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, TD Cowen reduced their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $416.50.

Everest Group Stock Up 2.8 %

Shares of EG stock opened at $359.35 on Monday. The stock has a 50 day moving average of $351.55 and a 200 day moving average of $368.29. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a market cap of $15.43 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30.

Everest Group (NYSE:EG) last announced 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%. As a group, sell-side analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

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.