Prana Capital Management LP Lowers Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Prana Capital Management LP lessened its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 27.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 156,881 shares of the company’s stock after selling 59,479 shares during the quarter. Everest Group makes up about 2.8% of Prana Capital Management LP’s investment portfolio, making the stock its 12th biggest position. Prana Capital Management LP’s holdings in Everest Group were worth $61,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ingalls & Snyder LLC boosted its position in shares of Everest Group by 4.2% in the third quarter. Ingalls & Snyder LLC now owns 4,664 shares of the company’s stock worth $1,827,000 after acquiring an additional 186 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Everest Group by 96.1% during the third quarter. Integrated Wealth Concepts LLC now owns 1,837 shares of the company’s stock worth $720,000 after purchasing an additional 900 shares during the period. Investment Management Corp of Ontario boosted its holdings in shares of Everest Group by 9.7% in the 3rd quarter. Investment Management Corp of Ontario now owns 1,428 shares of the company’s stock valued at $560,000 after purchasing an additional 126 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Everest Group during the 3rd quarter valued at $9,267,000. Finally, Centiva Capital LP increased its holdings in shares of Everest Group by 18.6% during the 3rd quarter. Centiva Capital LP now owns 5,651 shares of the company’s stock worth $2,214,000 after buying an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EG shares. Barclays lowered 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 target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen decreased their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and raised their target price for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, Bank of America decreased their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Everest Group currently has a consensus rating of “Hold” and a consensus price target of $431.30.

Everest Group Price Performance

Shares of EG stock opened at $385.42 on Wednesday. The firm has a market cap of $16.57 billion, a P/E ratio of 6.03, a P/E/G ratio of 2.84 and a beta of 0.64. The firm has a fifty day moving average of $380.79 and a two-hundred day moving average of $381.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $408.71.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Insider Transactions at Everest Group

In other Everest Group news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. acquired 2,870 shares of Everest Group stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the transaction, the director now 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 position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

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.