Erste Asset Management GmbH Trims Stock Position in Everest Group, Ltd. (NYSE:EG)

Erste Asset Management GmbH lessened its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the company’s stock after selling 100 shares during the period. Erste Asset Management GmbH’s holdings in Everest Group were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Everest Group during the fourth quarter worth $31,000. Brooklyn Investment Group purchased a new position in Everest Group in the third quarter valued at $39,000. Private Trust Co. NA increased its holdings in Everest Group by 51.7% in the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after buying an additional 45 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Everest Group in the third quarter valued at $64,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the subject of a number of recent analyst reports. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $453.00 to $375.00 in a report on Thursday, January 30th. TD Cowen cut their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their target price 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and a consensus target price of $416.50.

Everest Group Stock Performance

EG opened at $359.35 on Friday. The firm has a market capitalization of $15.43 billion, a PE ratio of 11.44, a PEG ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30. The firm’s 50-day moving average price is $351.55 and its 200 day moving average price is $368.44. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, sell-side analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.23%. Everest Group’s payout ratio is presently 25.47%.

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.