Main Street Financial Solutions LLC Takes Position in Everest Group, Ltd. (NYSE:EG)

Main Street Financial Solutions LLC bought a new stake in Everest Group, Ltd. (NYSE:EG) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 667 shares of the company’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EG. American National Bank bought a new stake in shares of Everest Group during the second quarter valued at approximately $27,000. M&R Capital Management Inc. bought a new stake in Everest Group during the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC raised its holdings in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares during the last quarter. Eastern Bank bought a new position in shares of Everest Group in the third quarter valued at $35,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Everest Group by 36.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after buying an additional 31 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of analyst reports. BMO Capital Markets lowered their price target on Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday. Barclays decreased their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Keefe, Bruyette & Woods cut their price objective 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 lowered their target price on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group increased their price target on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $435.18.

Insider Buying and Selling at Everest Group

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the purchase, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $366.26 on Friday. The firm has a market capitalization of $15.74 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.92. The firm’s 50 day simple moving average is $381.24 and its 200 day simple moving average is $380.50. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The company also recently disclosed 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s payout ratio is currently 12.52%.

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.