Swiss National Bank Decreases Holdings in Everest Group, Ltd. (NYSE:EG)

Swiss National Bank decreased its position in shares of Everest Group, Ltd. (NYSE:EG) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,300 shares of the company’s stock after selling 6,500 shares during the period. Swiss National Bank owned 0.28% of Everest Group worth $44,329,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Everest Group during the 4th quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new position in Everest Group during the 3rd quarter valued at approximately $39,000. Private Trust Co. NA increased its stake in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after purchasing an additional 45 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Everest Group during the 3rd quarter valued at approximately $64,000. Finally, EverSource Wealth Advisors LLC increased its stake in Everest Group by 43.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE EG opened at $359.35 on Monday. The company’s fifty day moving average price is $351.55 and its 200 day moving average price is $368.29. Everest Group, Ltd. has a 1 year low of $327.37 and a 1 year high of $407.30. The company has a market capitalization of $15.43 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Analyst Ratings Changes

A number of research analysts have issued reports on EG shares. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and upped their price target for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Wells Fargo & Company cut their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Barclays increased their price objective on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Finally, TD Cowen cut their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $416.50.

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.