World Investment Advisors LLC Makes New Investment in Everest Group, Ltd. (NYSE:EG)

World Investment Advisors LLC purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the third quarter, Holdings Channel.com reports. The fund purchased 307,694 shares of the company’s stock, valued at approximately $120,564,000. Everest Group accounts for approximately 0.7% of World Investment Advisors LLC’s portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EG. American National Bank bought a new stake in Everest Group during the second quarter worth $27,000. M&R Capital Management Inc. purchased a new stake in shares of Everest Group during the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC raised its stake in shares of Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares during the period. Eastern Bank purchased a new position in shares of Everest Group in the 3rd quarter worth about $35,000. Finally, Brooklyn Investment Group bought a new position in Everest Group during the third quarter valued at about $39,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Price Performance

Everest Group stock opened at $371.40 on Friday. The stock has a market cap of $15.96 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 2.81 and a beta of 0.64. 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 has a 50-day simple moving average of $379.97 and a 200 day simple moving average of $380.84. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $407.30.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is 12.52%.

Insider Activity at Everest Group

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, 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 insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America dropped their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets dropped their price target on 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. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, TD Cowen reduced their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. 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 currently has a consensus rating of “Hold” and an average target price of $430.10.

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.