Everest Group, Ltd. (NYSE:EG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 5.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,020 shares of the company’s stock after selling 273 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Everest Group were worth $1,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. grew its stake in Everest Group by 60.1% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 1,071 shares of the company’s stock worth $388,000 after buying an additional 402 shares during the last quarter. Edgestream Partners L.P. grew its stake in Everest Group by 280.4% during the 4th quarter. Edgestream Partners L.P. now owns 7,109 shares of the company’s stock worth $2,577,000 after buying an additional 5,240 shares during the last quarter. Callan Family Office LLC purchased a new position in Everest Group during the 4th quarter worth approximately $251,000. Candriam S.C.A. grew its stake in Everest Group by 42.2% during the 4th quarter. Candriam S.C.A. now owns 5,340 shares of the company’s stock worth $1,936,000 after buying an additional 1,586 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Everest Group during the 4th quarter worth approximately $48,290,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EG. Wells Fargo & Company dropped their price target on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. TD Cowen lowered their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lifted their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $416.50.

Everest Group Stock Up 2.8 %

EG opened at $359.35 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50 day simple moving average of $351.55 and a 200-day simple moving average of $368.44. The stock has a market capitalization of $15.43 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. On average, equities analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be issued a dividend of $2.00 per share. The ex-dividend date is Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.23%. Everest Group’s dividend payout ratio is presently 25.47%.

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.