JPMorgan Chase & Co. Grows Holdings in Everest Group, Ltd. (NYSE:EG)

JPMorgan Chase & Co. raised its position in shares of Everest Group, Ltd. (NYSE:EG) by 19.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,469 shares of the company’s stock after purchasing an additional 12,791 shares during the quarter. JPMorgan Chase & Co. owned 0.18% of Everest Group worth $30,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. M&R Capital Management Inc. purchased a new stake in Everest Group in the 3rd quarter worth $29,000. Bruce G. Allen Investments LLC grew its position in shares of Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Eastern Bank bought a new stake in Everest Group during the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new position in Everest Group in the 3rd quarter worth approximately $39,000. Finally, American National Bank & Trust boosted its stake in Everest Group by 80.0% in the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after purchasing an additional 56 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following 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 is accessible through the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s 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 acquisition, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This 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 owned by insiders.

Wall Street Analysts Forecast Growth

EG has been the topic of several research analyst reports. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Bank of America reduced their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Barclays dropped their price target on Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a research note on Monday. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their price target on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and an average target price of $428.00.

Everest Group Stock Up 2.6 %

NYSE EG opened at $370.96 on Wednesday. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $407.30. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 2.69 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $368.03 and a two-hundred day moving average of $377.35.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is currently 12.52%.

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.