Stifel Financial Corp Increases Holdings in Everest Group, Ltd. (NYSE:EG)

Stifel Financial Corp boosted its position in Everest Group, Ltd. (NYSE:EG) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,347 shares of the company’s stock after buying an additional 162 shares during the period. Stifel Financial Corp’s holdings in Everest Group were worth $1,704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. raised its stake in shares of Everest Group by 15.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 754 shares of the company’s stock valued at $287,000 after buying an additional 103 shares during the last quarter. Fifth Third Bancorp raised its position in Everest Group by 8.3% during the second quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock valued at $381,000 after acquiring an additional 77 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Everest Group by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 290,469 shares of the company’s stock valued at $110,675,000 after acquiring an additional 829 shares during the period. State of Michigan Retirement System lifted its holdings in Everest Group by 1.6% in the second quarter. State of Michigan Retirement System now owns 12,911 shares of the company’s stock valued at $4,919,000 after acquiring an additional 200 shares during the period. Finally, Signature Estate & Investment Advisors LLC boosted its position in Everest Group by 4.1% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 7,836 shares of the company’s stock worth $2,986,000 after purchasing an additional 307 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. acquired 2,870 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the acquisition, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EG has been the subject of several analyst reports. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. TD Cowen decreased their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. BMO Capital Markets cut their price target on 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. Bank of America reduced their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their target price on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $430.00.

Everest Group Stock Up 2.1 %

EG stock opened at $356.64 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $15.33 billion, a PE ratio of 5.58, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $407.30. The company has a fifty day moving average of $374.24 and a 200-day moving average of $378.85.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group’s dividend payout ratio is currently 12.52%.

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.