Everest Group, Ltd. (NYSE:EG) Position Raised by Systematic Financial Management LP

Systematic Financial Management LP increased its position in shares of Everest Group, Ltd. (NYSE:EG) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,235 shares of the company’s stock after purchasing an additional 9,667 shares during the period. Everest Group accounts for about 1.0% of Systematic Financial Management LP’s investment portfolio, making the stock its 16th largest holding. Systematic Financial Management LP’s holdings in Everest Group were worth $40,843,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EG. SG Americas Securities LLC raised its stake in Everest Group by 284.8% during the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock valued at $9,622,000 after purchasing an additional 18,175 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in Everest Group during the 2nd quarter valued at $921,000. Intech Investment Management LLC raised its stake in Everest Group by 13.1% during the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock valued at $10,706,000 after purchasing an additional 3,166 shares during the period. Mutual of America Capital Management LLC raised its stake in Everest Group by 17.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 19,962 shares of the company’s stock valued at $7,822,000 after purchasing an additional 2,900 shares during the period. Finally, Blue Trust Inc. raised its stake in Everest Group by 92.9% during the 2nd quarter. Blue Trust Inc. now owns 162 shares of the company’s stock valued at $64,000 after purchasing an additional 78 shares during the period. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods lowered their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen decreased their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Bank of America cut their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $431.30.

Insider Activity

In related news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was 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 directly 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 disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Everest Group Stock Down 1.7 %

EG opened at $378.74 on Thursday. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $407.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The firm’s fifty day moving average price is $380.71 and its two-hundred day moving average price is $381.01. The company has a market capitalization of $16.28 billion, a P/E ratio of 5.93, a P/E/G ratio of 2.85 and a beta of 0.64.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $2.00 dividend. The ex-dividend date 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%.

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.