Meritage Portfolio Management Decreases Stock Position in Everest Group, Ltd. (NYSE:EG)

Meritage Portfolio Management reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,552 shares of the company’s stock after selling 239 shares during the quarter. Meritage Portfolio Management’s holdings in Everest Group were worth $4,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Covestor Ltd raised its holdings in shares of Everest Group by 9.0% in the third quarter. Covestor Ltd now owns 520 shares of the company’s stock worth $204,000 after acquiring an additional 43 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in Everest Group in the 3rd quarter valued at about $262,000. Assetmark Inc. lifted its holdings in Everest Group by 39.7% in the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock valued at $160,646,000 after purchasing an additional 116,559 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of Everest Group during the 3rd quarter worth about $389,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of Everest Group in the third quarter valued at approximately $340,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Everest Group

In other news, Director William F. Galtney, Jr. purchased 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, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction 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 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction on Monday, November 4th. The stock was acquired 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 of the company’s stock, valued at $11,443,062.08. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Bank of America reduced their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. TD Cowen dropped their price objective on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.00.

Everest Group Stock Up 1.7 %

Shares of EG traded up $6.24 during mid-day trading on Friday, reaching $368.29. 408,387 shares of the stock traded hands, compared to its average volume of 348,067. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 5.76, a P/E/G ratio of 2.59 and a beta of 0.63. The stock has a fifty day simple moving average of $383.08 and a 200 day simple moving average of $380.51. The company has a quick ratio of 0.38, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $417.92.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $2.00 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.17%. 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.