Everest Group, Ltd. (NYSE:EG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,526 shares of the company’s stock after selling 13,914 shares during the period. Bank of New York Mellon Corp’s holdings in Everest Group were worth $92,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Investment Advisors grew its stake in Everest Group by 72.0% in the 1st quarter. World Investment Advisors now owns 1,827 shares of the company’s stock worth $664,000 after acquiring an additional 765 shares during the period. Truist Financial Corp grew its stake in shares of Everest Group by 16.9% during the 1st quarter. Truist Financial Corp now owns 108,596 shares of the company’s stock valued at $39,456,000 after buying an additional 15,660 shares during the period. IFM Investors Pty Ltd increased its holdings in shares of Everest Group by 2.5% during the 1st quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock worth $4,392,000 after buying an additional 273 shares during the last quarter. MBA Advisors LLC purchased a new position in shares of Everest Group in the 1st quarter worth $443,000. Finally, D.A. Davidson & CO. raised its position in shares of Everest Group by 31.4% in the 1st quarter. D.A. Davidson & CO. now owns 2,652 shares of the company’s stock worth $964,000 after buying an additional 634 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Down 0.4%

Shares of Everest Group stock opened at $340.07 on Thursday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $341.23 and a 200 day moving average price of $349.14. The stock has a market cap of $14.46 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.27 and a beta of 0.51. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $16.32 earnings per share. Equities research analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.35%. Everest Group’s dividend payout ratio is presently 41.15%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Janney Montgomery Scott assumed coverage on Everest Group in a research report on Friday, June 20th. They issued a “buy” rating and a $425.00 target price on the stock. UBS Group cut their target price on Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company cut their target price on Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley increased their target price on Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Finally, Barclays increased their target price on Everest Group from $394.00 to $398.00 and gave the stock an “overweight” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Everest Group currently has an average rating of “Moderate Buy” and a consensus price target of $400.75.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the purchase, the chief executive officer directly owned 25,618 shares of the company’s stock, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.