Signature Estate & Investment Advisors LLC Cuts Stake in Everest Group, Ltd. (NYSE:EG)

Signature Estate & Investment Advisors LLC lowered its position in shares of Everest Group, Ltd. (NYSE:EG) by 37.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,906 shares of the company’s stock after selling 2,930 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Everest Group were worth $1,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Boston Partners increased its stake in shares of Everest Group by 29.1% during the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after buying an additional 269,665 shares during the period. AQR Capital Management LLC increased its stake in shares of Everest Group by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after buying an additional 17,885 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Everest Group by 5.3% during the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock valued at $360,175,000 after buying an additional 45,705 shares during the period. William Blair Investment Management LLC grew its stake in Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after purchasing an additional 134,517 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Everest Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock valued at $203,891,000 after purchasing an additional 38,254 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 1.3 %

Everest Group stock opened at $371.39 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 5.81, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The stock has a 50-day moving average price of $380.99 and a 200 day moving average price of $380.52.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is 12.52%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays cut their target price on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Keefe, Bruyette & Woods cut their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets cut their target price on Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Bank of America lowered their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $435.18.

Insider Buying and Selling

In related news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. purchased 2,870 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The shares were bought 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 owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

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.