Great Lakes Advisors LLC Sells 385 Shares of Everest Group, Ltd. (NYSE:EG)

Great Lakes Advisors LLC reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,417 shares of the company’s stock after selling 385 shares during the quarter. Great Lakes Advisors LLC’s holdings in Everest Group were worth $514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors LLC bought a new position in Everest Group during the 3rd quarter valued at about $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Everest Group by 442.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock worth $120,744,000 after buying an additional 251,337 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Everest Group in the fourth quarter valued at approximately $48,290,000. Truist Financial Corp boosted its holdings in shares of Everest Group by 7,580.7% in the 4th quarter. Truist Financial Corp now owns 92,936 shares of the company’s stock worth $33,686,000 after acquiring an additional 91,726 shares in the last quarter. Finally, FMR LLC grew its position in Everest Group by 21.5% during the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock worth $160,988,000 after acquiring an additional 72,822 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Price Performance

Shares of EG stock opened at $359.35 on Monday. The firm’s 50 day moving average price is $351.55 and its two-hundred day moving average price is $368.29. The stock has a market cap of $15.43 billion, a PE ratio of 11.44, a PEG ratio of 0.24 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a 52-week low of $327.37 and a 52-week high of $407.30.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 is currently 25.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EG shares. Barclays boosted their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and increased their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Morgan Stanley reissued an “equal weight” rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. 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 three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $416.50.

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.