Kentucky Retirement Systems Insurance Trust Fund Sells 121 Shares of Everest Group, Ltd. (NYSE:EG)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Everest Group, Ltd. (NYSE:EG) by 8.6% in the third quarter, HoldingsChannel reports. The firm owned 1,281 shares of the company’s stock after selling 121 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Everest Group were worth $502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. Empowered Funds LLC grew its holdings in shares of Everest Group by 290.5% in the third quarter. Empowered Funds LLC now owns 9,622 shares of the company’s stock valued at $3,770,000 after acquiring an additional 7,158 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Everest Group by 7.9% during the 3rd quarter. CIBC Asset Management Inc now owns 6,309 shares of the company’s stock worth $2,472,000 after purchasing an additional 460 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in shares of Everest Group by 4.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,708 shares of the company’s stock worth $4,979,000 after buying an additional 574 shares during the last quarter. Lifeworks Advisors LLC grew its position in Everest Group by 1,843.7% during the third quarter. Lifeworks Advisors LLC now owns 12,265 shares of the company’s stock valued at $4,806,000 after buying an additional 11,634 shares during the period. Finally, Main Street Financial Solutions LLC purchased a new stake in Everest Group during the third quarter worth about $261,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Activity

In other Everest Group news, Director William F. Galtney, Jr. purchased 2,870 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 32,822 shares in the company, valued at $11,443,062.08. The trade was a 9.58 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was 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 directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EG. Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Barclays dropped their price objective on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, BMO Capital Markets reduced their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $436.45.

Everest Group Trading Up 0.5 %

Shares of Everest Group stock opened at $373.33 on Tuesday. The company’s 50-day moving average price is $380.72 and its 200-day moving average price is $380.70. 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, Ltd. has a 12-month low of $343.76 and a 12-month high of $417.92. The company has a market cap of $16.05 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 2.66 and a beta of 0.63.

Everest Group Announces Dividend

The company 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 $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is 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.