By otakuyassine3@gmail.com 
M&T Bank Corp decreased its holdings in Everest Group, Ltd. (NYSE:EG – Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,376 shares of the company’s stock after selling 240 shares during the period. M&T Bank Corp’s holdings in Everest Group were worth $861,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of EG. SBI Securities Co. Ltd. bought a new position in shares of Everest Group in the 4th quarter valued at $31,000. Brooklyn Investment Group bought a new stake in Everest Group during the 3rd quarter worth $39,000. Private Trust Co. NA grew its position in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after acquiring an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the 3rd quarter worth $64,000. Finally, Avior Wealth Management LLC grew its position in Everest Group by 22.4% during the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on EG shares. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. TD Cowen reduced their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Barclays boosted their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Everest Group has an average rating of “Hold” and an average price target of $416.50.
Get Our Latest Research Report on Everest Group
Everest Group Stock Down 0.9 %
Shares of EG opened at $354.04 on Wednesday. The company has a market capitalization of $15.20 billion, a PE ratio of 11.27, a PEG ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30. The stock’s 50-day moving average price is $352.24 and its two-hundred day moving average price is $369.07. 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 – Get Free Report) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) EPS 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%. On average, analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.
Everest Group Dividend Announcement
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 paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Monday, March 17th. Everest Group’s dividend payout ratio is 25.47%.
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.
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