SPX Gestao de Recursos Ltda Makes New Investment in Everest Group, Ltd. (NYSE:EG)

SPX Gestao de Recursos Ltda acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,828 shares of the company’s stock, valued at approximately $6,986,000. Everest Group comprises 0.9% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors have also made changes to their positions in the company. Cetera Advisors LLC acquired a new position in Everest Group during the 1st quarter valued at approximately $340,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Everest Group by 15.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 754 shares of the company’s stock valued at $287,000 after buying an additional 103 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Everest Group by 1.5% in the second quarter. Wedge Capital Management L L P NC now owns 8,053 shares of the company’s stock valued at $3,068,000 after buying an additional 121 shares during the period. Blue Trust Inc. lifted its holdings in shares of Everest Group by 92.9% in the second quarter. Blue Trust Inc. now owns 162 shares of the company’s stock valued at $64,000 after buying an additional 78 shares during the period. Finally, Vista Investment Partners LLC raised its position in shares of Everest Group by 1.7% during the second quarter. Vista Investment Partners LLC now owns 7,733 shares of the company’s stock worth $2,946,000 after purchasing an additional 126 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EG has been the topic of a number of recent analyst reports. TD Cowen cut their target price 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. Barclays dropped their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, BMO Capital Markets decreased their price target on 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. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average price target of $430.10.

Everest Group Price Performance

Shares of EG traded down $0.19 during mid-day trading on Friday, reaching $362.43. The company had a trading volume of 24,420 shares, compared to its average volume of 354,744. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $407.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The company’s 50-day moving average is $377.52 and its 200-day moving average is $380.03. The company has a market capitalization of $15.58 billion, a P/E ratio of 5.79, a P/E/G ratio of 2.68 and a beta of 0.64.

Everest Group Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.21%. Everest Group’s payout ratio is presently 12.52%.

Insider Transactions at Everest Group

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were purchased 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 represents a 9.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

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.