Summit Global Investments Sells 20,205 Shares of Everest Group, Ltd. (NYSE:EG)

Summit Global Investments reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 54.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,166 shares of the company’s stock after selling 20,205 shares during the quarter. Summit Global Investments’ holdings in Everest Group were worth $6,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Everest Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock worth $453,818,000 after acquiring an additional 16,180 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Everest Group by 10.5% during the 4th quarter. William Blair Investment Management LLC now owns 642,813 shares of the company’s stock worth $232,994,000 after acquiring an additional 61,026 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Everest Group by 6.6% during the 3rd 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 last quarter. Assetmark Inc. lifted its stake in shares of Everest Group by 1.4% during the 4th quarter. Assetmark Inc. now owns 415,638 shares of the company’s stock worth $150,652,000 after acquiring an additional 5,649 shares during the last quarter. Finally, FMR LLC increased its holdings in Everest Group by 21.5% during the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock worth $160,988,000 after purchasing an additional 72,822 shares during the period. 92.64% of the stock is owned by institutional investors.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was 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 of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Everest Group Trading Down 0.5 %

Shares of NYSE:EG opened at $353.19 on Friday. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. The business’s fifty day simple moving average is $350.90 and its 200-day simple moving average is $367.45. The company has a market capitalization of $15.16 billion, a PE ratio of 11.24, a P/E/G ratio of 0.24 and a beta of 0.61. 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 announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, equities research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.27%. Everest Group’s payout ratio is 25.47%.

Wall Street Analyst Weigh In

Several research firms have commented on EG. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Keefe, Bruyette & Woods raised their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Barclays raised their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus target price of $416.50.

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.