Prospector Partners LLC Acquires 208 Shares of Everest Group, Ltd. (NYSE:EG)

Prospector Partners LLC grew its holdings in Everest Group, Ltd. (NYSE:EG) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,501 shares of the company’s stock after purchasing an additional 208 shares during the period. Everest Group comprises about 1.8% of Prospector Partners LLC’s investment portfolio, making the stock its 19th biggest holding. Prospector Partners LLC owned 0.10% of Everest Group worth $17,045,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EG. FMR LLC increased its holdings in Everest Group by 21.5% in the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock worth $160,988,000 after buying an additional 72,822 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Everest Group by 3.1% during the third quarter. The Manufacturers Life Insurance Company now owns 32,133 shares of the company’s stock valued at $12,591,000 after purchasing an additional 969 shares during the period. Bank of Montreal Can boosted its holdings in Everest Group by 41.8% in the third quarter. Bank of Montreal Can now owns 199,361 shares of the company’s stock worth $78,776,000 after purchasing an additional 58,787 shares during the last quarter. Private Trust Co. NA raised 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 buying an additional 45 shares during the last quarter. Finally, Independent Advisor Alliance bought a new position in shares of Everest Group during the 3rd quarter valued at $510,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Activity

In other Everest Group news, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $5,553,330. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William F. Galtney, Jr. bought 2,870 shares of the stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

NYSE:EG opened at $390.31 on Tuesday. The stock has a 50-day moving average price of $380.77 and a 200 day moving average price of $380.80. The stock has a market capitalization of $16.78 billion, a P/E ratio of 6.11, a P/E/G ratio of 2.88 and a beta of 0.63. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $417.04. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is currently 12.52%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EG. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $420.00 to $429.00 in a report on Tuesday. Bank of America reduced their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company cut their target price on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. BMO Capital Markets decreased their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Finally, TD Cowen cut their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $431.30.

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.