Everest Group, Ltd. (NYSE:EG) Position Cut by Mount Lucas Management LP

Mount Lucas Management LP decreased its position in shares of Everest Group, Ltd. (NYSE:EG) by 53.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,689 shares of the company’s stock after selling 6,597 shares during the quarter. Mount Lucas Management LP’s holdings in Everest Group were worth $2,229,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. American National Bank acquired a new position in Everest Group during the 2nd quarter valued at about $27,000. M&R Capital Management Inc. acquired a new position in shares of Everest Group during the third quarter worth approximately $29,000. Bruce G. Allen Investments LLC grew its holdings in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares in the last quarter. Eastern Bank bought a new position in Everest Group in the 3rd quarter worth approximately $35,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares during the period. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EG. Jefferies Financial Group boosted their price target on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America reduced their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. TD Cowen lowered their target price on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Wells Fargo & Company reduced 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, UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $435.18.

Insider Transactions at Everest Group

In other news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William F. Galtney, Jr. purchased 2,870 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the transaction, the director now owns 32,822 shares in the company, valued at $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 owned by insiders.

Everest Group Trading Up 1.3 %

Shares of NYSE:EG opened at $371.33 on Friday. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 2.66 and a beta of 0.63. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.92. The company has a 50 day moving average price of $380.99 and a 200 day moving average price of $380.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group Announces Dividend

The business also recently announced 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Wednesday, November 27th. Everest Group’s payout ratio is 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.