Corient Private Wealth LLC Cuts Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Corient Private Wealth LLC lessened its holdings in Everest Group, Ltd. (NYSE:EG) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,342 shares of the company’s stock after selling 1,954 shares during the quarter. Corient Private Wealth LLC owned approximately 0.06% of Everest Group worth $9,544,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EG. CIBC Asset Management Inc increased its holdings in Everest Group by 7.9% in the third quarter. CIBC Asset Management Inc now owns 6,309 shares of the company’s stock valued at $2,472,000 after buying an additional 460 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Everest Group by 27.8% in the third quarter. Thrivent Financial for Lutherans now owns 29,559 shares of the company’s stock valued at $11,582,000 after buying an additional 6,430 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Everest Group by 5.7% in the third quarter. Pathstone Holdings LLC now owns 44,878 shares of the company’s stock valued at $17,585,000 after buying an additional 2,423 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Everest Group by 7.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock valued at $2,074,000 after buying an additional 346 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Everest Group by 2.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 149,362 shares of the company’s stock valued at $58,525,000 after buying an additional 3,866 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of EG opened at $356.63 on Thursday. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The firm has a 50-day simple moving average of $351.18 and a 200-day simple moving average of $367.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group (NYSE:EG) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be given a $2.00 dividend. The ex-dividend date is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.24%. Everest Group’s payout ratio is currently 25.47%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EG shares. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Morgan Stanley restated an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and upped their price objective for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $416.50.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares in the company, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

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.