BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Holdings in Everest Group, Ltd. (NYSE:EG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Everest Group, Ltd. (NYSE:EG) by 13.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,251 shares of the company’s stock after selling 1,087 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Everest Group were worth $2,841,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. American National Bank purchased a new stake in Everest Group during the 2nd quarter valued at about $27,000. M&R Capital Management Inc. purchased a new stake in shares of Everest Group in the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC grew its position 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 valued at $31,000 after purchasing an additional 52 shares in the last quarter. Eastern Bank acquired a new stake in shares of Everest Group in the third quarter valued at approximately $35,000. Finally, Brooklyn Investment Group purchased a new position in Everest Group during the third quarter worth approximately $39,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Down 1.7 %

Shares of NYSE EG opened at $378.74 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $380.71 and its two-hundred day moving average is $381.01. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $407.30. The firm has a market cap of $16.28 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 2.84 and a beta of 0.64.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.11%. Everest Group’s dividend payout ratio is presently 12.52%.

Insider Buying and Selling

In related news, Director William F. Galtney, Jr. acquired 2,870 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the 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 completion of the sale, the chief operating officer now owns 15,009 shares in the company, valued at approximately $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. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EG has been the subject of several analyst reports. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their target price for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. UBS Group upgraded shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reduced their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company dropped their price target on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Finally, BMO Capital Markets reduced their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Everest Group has a consensus rating of “Hold” and an average target price of $431.30.

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.