Martingale Asset Management L P Reduces Position in Everest Group, Ltd. (NYSE:EG)

Martingale Asset Management L P lessened its stake in Everest Group, Ltd. (NYSE:EG) by 8.8% in the fourth quarter, HoldingsChannel reports. The firm owned 54,968 shares of the company’s stock after selling 5,279 shares during the period. Martingale Asset Management L P’s holdings in Everest Group were worth $19,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Everest Group during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in Everest Group in the 3rd quarter worth $64,000. Private Trust Co. NA grew its holdings in Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after purchasing an additional 64 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after purchasing an additional 64 shares during the period. Finally, Avior Wealth Management LLC grew its stake in Everest Group by 22.4% during the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Insider Transactions at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now directly owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Everest Group Price Performance

NYSE:EG opened at $330.89 on Wednesday. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50 day moving average price of $348.81 and a 200 day moving average price of $364.37. The stock has a market cap of $15.81 billion, a PE ratio of 10.53, a P/E/G ratio of 0.24 and a beta of 0.43.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS 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%. Equities research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays lifted their price objective on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Keefe, Bruyette & Woods increased their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently 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.