Everest Group, Ltd. (NYSE:EG) Stock Position Decreased by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,870 shares of the company’s stock after selling 141 shares during the period. Federated Hermes Inc.’s holdings in Everest Group were worth $4,302,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EG. Norges Bank acquired a new position in shares of Everest Group in the 4th quarter valued at about $488,588,000. Donald Smith & CO. Inc. acquired a new position in Everest Group in the 4th quarter valued at approximately $56,341,000. Raymond James Financial Inc. purchased a new stake in Everest Group in the 4th quarter worth approximately $48,290,000. Envestnet Asset Management Inc. boosted its stake in shares of Everest Group by 352.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 153,938 shares of the company’s stock valued at $55,796,000 after buying an additional 119,944 shares during the period. Finally, Truist Financial Corp grew its holdings in shares of Everest Group by 7,580.7% during the 4th quarter. Truist Financial Corp now owns 92,936 shares of the company’s stock valued at $33,686,000 after acquiring an additional 91,726 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now directly owns 12,279 shares of the company’s stock, valued at $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 is available through this link. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EG. Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $376.00 to $415.00 in a research note on Friday. UBS Group decreased their target price on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of “Hold” and a consensus price target of $396.00.

Everest Group Stock Up 2.5 %

NYSE:EG opened at $349.79 on Friday. The stock’s fifty day simple moving average is $348.82 and its 200-day simple moving average is $363.47. The firm has a market capitalization of $16.71 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.24 and a beta of 0.43. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30.

Everest Group (NYSE:EG) last posted 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%. Equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.29%. Everest Group’s payout ratio is 25.47%.

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.