Mount Lucas Management LP Sells 452 Shares of Everest Group, Ltd. (NYSE:EG)

Mount Lucas Management LP reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 7.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,237 shares of the company’s stock after selling 452 shares during the quarter. Mount Lucas Management LP’s holdings in Everest Group were worth $1,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dakota Wealth Management boosted its position in Everest Group by 1.7% during the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock valued at $705,000 after purchasing an additional 32 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Everest Group by 19.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after buying an additional 32 shares during the last quarter. Steph & Co. grew its stake in shares of Everest Group by 10.6% in the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after buying an additional 35 shares in the last quarter. Lester Murray Antman dba SimplyRich increased its holdings in Everest Group by 2.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after buying an additional 35 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in Everest Group by 5.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 661 shares of the company’s stock worth $239,000 after acquiring an additional 37 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EG. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price objective on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their price target on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus price target of $416.50.

Everest Group Price Performance

Everest Group stock opened at $363.88 on Monday. The company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.24 and a beta of 0.61. The stock’s 50 day moving average is $352.43 and its 200-day moving average is $369.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Equities research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is 25.47%.

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.