Petrus Trust Company LTA Acquires New Position in Everest Group, Ltd. (NYSE:EG)

Petrus Trust Company LTA bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,015 shares of the company’s stock, valued at approximately $790,000.

Several other large investors have also added to or reduced their stakes in the company. American National Bank purchased a new position in Everest Group in the 2nd quarter worth approximately $27,000. M&R Capital Management Inc. bought a new stake in shares of Everest Group during the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC raised its position in shares of Everest Group by 200.0% during the third 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 last quarter. Eastern Bank purchased a new position in shares of Everest Group in the third quarter worth $35,000. Finally, Brooklyn Investment Group bought a new position in shares of Everest Group during the third quarter worth $39,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

In other Everest Group news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 15,009 shares in the company, valued at $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 is available at the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group 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 in the company, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America decreased their price target 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. Keefe, Bruyette & Woods decreased their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. TD Cowen cut their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Barclays reduced their price objective on 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, UBS Group upgraded Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $431.30.

Everest Group Stock Up 0.4 %

Shares of EG opened at $385.42 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $408.71. The company has a market cap of $16.57 billion, a PE ratio of 6.03, a P/E/G ratio of 2.84 and a beta of 0.64. The business has a fifty day moving average of $380.79 and a 200 day moving average of $381.03.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.08%. Everest Group’s payout ratio is 12.52%.

Everest Group 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.