Manning & Napier Advisors LLC Sells 4,824 Shares of Everest Group, Ltd. (NYSE:EG)

Manning & Napier Advisors LLC cut its position in shares of Everest Group, Ltd. (NYSE:EG) by 35.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,873 shares of the company’s stock after selling 4,824 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Everest Group were worth $3,216,000 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. Geode Capital Management LLC boosted its holdings in shares of Everest Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock worth $453,818,000 after buying an additional 16,180 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Everest Group by 6.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock worth $192,267,000 after acquiring an additional 30,458 shares during the period. Mizuho Securities USA LLC boosted its stake in Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock valued at $162,766,000 after acquiring an additional 412,040 shares during the last quarter. FMR LLC grew its position in shares of Everest Group by 21.5% during the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after acquiring an additional 72,822 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Everest Group by 39.7% during the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock worth $160,646,000 after purchasing an additional 116,559 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EG shares. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and increased their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Barclays decreased their price objective on Everest Group from $499.00 to $461.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted 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. Finally, Wells Fargo & Company lowered their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Everest Group has an average rating of “Moderate Buy” and an average target price of $431.22.

Everest Group Trading Down 4.2 %

Everest Group stock opened at $352.06 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $407.30. The stock has a market cap of $15.13 billion, a P/E ratio of 5.51, a PEG ratio of 2.47 and a beta of 0.65. The firm’s fifty day moving average price is $366.84 and its 200-day moving average price is $375.87.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.27%. Everest Group’s payout ratio is currently 12.52%.

Insider Activity

In other Everest Group news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

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.