Summit Global Investments Has $14.64 Million Position in Everest Group, Ltd. (NYSE:EG)

Summit Global Investments raised its position in Everest Group, Ltd. (NYSE:EG) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,371 shares of the company’s stock after buying an additional 1,686 shares during the quarter. Everest Group accounts for 0.9% of Summit Global Investments’ holdings, making the stock its 19th biggest holding. Summit Global Investments’ holdings in Everest Group were worth $14,643,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EG. SG Americas Securities LLC grew its stake in Everest Group by 284.8% during the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after buying an additional 18,175 shares in the last quarter. Clearbridge Investments LLC increased its stake in Everest Group by 1.5% in the first quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock valued at $115,052,000 after acquiring an additional 4,412 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Everest Group during the second quarter valued at approximately $921,000. Forsta AP Fonden lifted its stake in Everest Group by 131.1% during the first quarter. Forsta AP Fonden now owns 17,100 shares of the company’s stock worth $6,797,000 after purchasing an additional 9,700 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Everest Group by 92.9% in 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 in the last quarter. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EG. BMO Capital Markets restated a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Bank of America lowered their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Jefferies Financial Group increased their price target on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays cut their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, TD Cowen decreased their target price on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $438.00.

Insiders Place Their Bets

In other news, Director William F. Galtney, Jr. bought 2,870 shares of the firm’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 transaction, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

Shares of EG stock opened at $361.90 on Friday. The firm has a 50 day moving average of $383.56 and a 200-day moving average of $380.46. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 5.66, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92.

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.