M&T Bank Corp Sells 787 Shares of Everest Group, Ltd. (NYSE:EG)

M&T Bank Corp decreased its stake in Everest Group, Ltd. (NYSE:EG) by 23.1% in the third quarter, Holdings Channel.com reports. The firm owned 2,616 shares of the company’s stock after selling 787 shares during the period. M&T Bank Corp’s holdings in Everest Group were worth $1,025,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its stake in Everest Group by 15.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 754 shares of the company’s stock worth $287,000 after buying an additional 103 shares during the period. Blue Trust Inc. grew its holdings in Everest Group by 92.9% during the 2nd quarter. Blue Trust Inc. now owns 162 shares of the company’s stock valued at $64,000 after purchasing an additional 78 shares during the last quarter. Summit Global Investments raised its position in Everest Group by 40.9% in the 2nd quarter. Summit Global Investments now owns 35,685 shares of the company’s stock worth $13,597,000 after purchasing an additional 10,355 shares during the period. Fifth Third Bancorp lifted its stake in Everest Group by 8.3% in the second quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock worth $381,000 after purchasing an additional 77 shares during the last quarter. Finally, American National Bank purchased a new position in shares of Everest Group during the second quarter valued at approximately $27,000. Institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

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

Everest Group Trading Up 0.1 %

Shares of Everest Group stock opened at $362.81 on Monday. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $407.30. The firm’s 50 day simple moving average is $376.63 and its two-hundred day simple moving average is $379.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 2.69 and a beta of 0.64.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.21%. Everest Group’s dividend payout ratio (DPR) is 12.52%.

Analysts Set New Price Targets

EG has been the subject of a number of research analyst reports. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. TD Cowen lowered their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Bank of America cut their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, BMO Capital Markets lowered their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and an average target price of $430.00.

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.