Brooklyn Investment Group Purchases New Stake in Everest Group, Ltd. (NYSE:EG)

Brooklyn Investment Group purchased a new stake in Everest Group, Ltd. (NYSE:EG) during the third quarter, HoldingsChannel.com reports. The firm purchased 100 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors have also recently modified their holdings of EG. Price T Rowe Associates Inc. MD boosted its stake in shares of Everest Group by 14.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 78,277 shares of the company’s stock valued at $31,116,000 after buying an additional 9,714 shares in the last quarter. Tidal Investments LLC boosted its position in Everest Group by 9.4% during the first quarter. Tidal Investments LLC now owns 3,991 shares of the company’s stock worth $1,584,000 after purchasing an additional 342 shares in the last quarter. Swedbank AB purchased a new stake in Everest Group during the first quarter worth $15,074,000. Cetera Investment Advisers boosted its position in Everest Group by 39.3% during the first quarter. Cetera Investment Advisers now owns 4,879 shares of the company’s stock worth $1,940,000 after purchasing an additional 1,377 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new stake in Everest Group during the first quarter worth $340,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on EG. TD Cowen decreased their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. BMO Capital Markets decreased their target price on 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. Keefe, Bruyette & Woods decreased their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company decreased their target price on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $420.00 to $429.00 in a report on Tuesday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and a consensus target price of $431.30.

Everest Group Stock Performance

Everest Group stock opened at $387.48 on Friday. The firm has a market capitalization of $16.65 billion, a P/E ratio of 6.09, a PEG ratio of 2.88 and a beta of 0.63. The stock has a fifty day moving average price of $380.80 and a 200 day moving average price of $381.01. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $413.18. 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 Announces Dividend

The firm also recently announced 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 of this dividend is Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.06%. Everest Group’s payout ratio is currently 12.52%.

Insider Activity at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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.