Everest Group, Ltd. (NYSE:EG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in shares of Everest Group, Ltd. (NYSE:EG) by 64.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,417 shares of the company’s stock after selling 45,144 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of Everest Group worth $9,567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EG. SG Americas Securities LLC lifted its position in Everest Group by 284.8% during the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after buying an additional 18,175 shares during the period. Diversified Trust Co acquired a new position in shares of Everest Group during the 1st quarter valued at about $1,621,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Everest Group by 163.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock worth $1,897,000 after acquiring an additional 2,964 shares during the period. Whittier Trust Co. acquired a new stake in shares of Everest Group in the first quarter worth approximately $1,505,000. Finally, Clearbridge Investments LLC grew its holdings in Everest Group by 1.5% in the first quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock valued at $115,052,000 after purchasing an additional 4,412 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Down 1.9 %

Shares of NYSE:EG opened at $379.61 on Friday. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 5.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. The company has a 50 day moving average of $387.31 and a two-hundred day moving average of $380.54. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $417.92. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the business posted $15.21 earnings per share. Everest Group’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, analysts forecast that Everest Group, Ltd. will post 60.97 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EG shares. Morgan Stanley cut their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company increased their target price on Everest Group from $393.00 to $406.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. TD Cowen cut their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods decreased their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and an average price target of $439.27.

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.