Point72 Hong Kong Ltd Acquires Shares of 7,673 Everest Group, Ltd. (NYSE:EG)

Point72 Hong Kong Ltd bought a new position in Everest Group, Ltd. (NYSE:EG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,673 shares of the company’s stock, valued at approximately $3,006,000.

A number of other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of 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 buying an additional 18,175 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Everest Group in the second quarter valued at approximately $921,000. Intech Investment Management LLC grew its holdings in shares of Everest Group by 13.1% during the third 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 last quarter. Mutual of America Capital Management LLC raised its position in shares of 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 worth $7,822,000 after purchasing an additional 2,900 shares during the period. Finally, Blue Trust Inc. lifted 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 worth $64,000 after purchasing an additional 78 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EG. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and upped their price objective for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Barclays lowered their price target on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company cut their price objective on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America dropped their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Everest Group currently has a consensus rating of “Hold” and an average target price of $431.30.

Insider Activity

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Everest Group Price Performance

NYSE EG opened at $387.56 on Monday. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $413.18. The business’s fifty day moving average is $380.80 and its two-hundred day moving average is $381.07. The stock has a market capitalization of $16.66 billion, a P/E ratio of 6.07, a P/E/G ratio of 2.87 and a beta of 0.63. 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. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

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.