Point72 Hong Kong Ltd Invests $3.01 Million in Everest Group, Ltd. (NYSE:EG)

Point72 Hong Kong Ltd acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the third quarter, HoldingsChannel reports. The fund acquired 7,673 shares of the company’s stock, valued at approximately $3,006,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of Everest Group by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after purchasing an additional 17,885 shares in the last quarter. William Blair Investment Management LLC increased its position in Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after buying an additional 134,517 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock valued at $203,891,000 after buying an additional 38,254 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Everest Group by 6.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock worth $192,267,000 after buying an additional 30,458 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Everest Group by 1.9% during the 2nd quarter. LSV Asset Management now owns 476,433 shares of the company’s stock worth $181,531,000 after acquiring an additional 8,654 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 0.4 %

NYSE EG opened at $387.56 on Monday. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $413.18. The stock has a market cap of $16.66 billion, a PE ratio of 6.07, a PEG ratio of 2.87 and a beta of 0.63. The firm has a 50-day simple moving average of $380.80 and a 200 day simple moving average of $381.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, November 27th. Everest Group’s payout ratio is presently 12.52%.

Wall Street Analyst Weigh In

EG has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Keefe, Bruyette & Woods dropped their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets decreased their price objective 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. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $431.30.

Insider Activity

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the acquisition, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Everest Group Company 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.