Glenmede Trust Co. NA Sells 385 Shares of Everest Group, Ltd. (NYSE:EG)

Glenmede Trust Co. NA lowered its position in shares of Everest Group, Ltd. (NYSE:EG) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,779 shares of the company’s stock after selling 385 shares during the period. Glenmede Trust Co. NA owned about 0.07% of Everest Group worth $11,668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American National Bank bought a new position in shares of Everest Group during the 2nd quarter valued at $27,000. M&R Capital Management Inc. bought a new position in shares of Everest Group during the third quarter valued at about $29,000. Bruce G. Allen Investments LLC increased its holdings in shares of Everest Group by 200.0% in 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 period. Eastern Bank bought a new stake in shares of Everest Group in the 3rd quarter valued at about $35,000. Finally, Brooklyn Investment Group purchased a new stake in Everest Group during the 3rd quarter valued at about $39,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on EG. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the company from $420.00 to $429.00 in a research report on Tuesday. BMO Capital Markets lowered their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a report on Thursday, November 14th. Barclays decreased their price objective on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Keefe, Bruyette & Woods dropped their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, TD Cowen lowered their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Everest Group presently has an average rating of “Hold” and an average target price of $431.30.

Everest Group Trading Down 0.4 %

EG opened at $387.48 on Friday. The stock has a market cap of $16.65 billion, a PE ratio of 6.06, a PEG ratio of 2.88 and a beta of 0.63. The business has a 50 day moving average of $380.80 and a 200-day moving average of $381.01. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $413.18. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Insider Transactions at Everest Group

In related news, Director William F. Galtney, Jr. bought 2,870 shares of the company’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 completion of the acquisition, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. The trade was a 9.58 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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.