Cibc World Markets Corp Sells 1,660 Shares of Everest Group, Ltd. (NYSE:EG)

Cibc World Markets Corp trimmed its position in shares of Everest Group, Ltd. (NYSE:EG) by 19.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,778 shares of the company’s stock after selling 1,660 shares during the quarter. Cibc World Markets Corp’s holdings in Everest Group were worth $2,457,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in Everest Group in the 4th quarter valued at $31,000. Brooklyn Investment Group bought a new stake in Everest Group in the 3rd quarter valued at $39,000. Private Trust Co. NA lifted its position in Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after acquiring an additional 45 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the 3rd quarter worth about $64,000. Finally, EverSource Wealth Advisors LLC lifted its position in Everest Group by 43.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock worth $76,000 after buying an additional 64 shares in the last quarter. 92.64% of the stock is owned by institutional investors.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EG shares. Jefferies Financial Group cut shares of 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 research report on Tuesday, November 26th. Barclays boosted their price target on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Wells Fargo & Company cut their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $416.50.

Everest Group Stock Down 0.3 %

Everest Group stock opened at $355.03 on Friday. The firm has a market capitalization of $15.24 billion, a PE ratio of 11.30, a P/E/G ratio of 0.24 and a beta of 0.61. The company’s 50-day moving average is $350.92 and its 200-day moving average is $367.72. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.25%. Everest Group’s dividend payout ratio (DPR) is currently 25.47%.

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.