Brandywine Global Investment Management LLC Sells 477 Shares of Everest Group, Ltd. $EG

Brandywine Global Investment Management LLC cut its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 25,553 shares of the company’s stock after selling 477 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Everest Group were worth $8,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Everest Group by 3.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock worth $372,000 after purchasing an additional 30 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Everest Group by 4.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $277,000 after buying an additional 34 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in Everest Group by 6.6% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company’s stock valued at $213,000 after acquiring an additional 37 shares during the period. PNC Financial Services Group Inc. raised its holdings in Everest Group by 0.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,059 shares of the company’s stock valued at $1,838,000 after acquiring an additional 39 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Everest Group by 2.9% during the second quarter. Legacy Wealth Asset Management LLC now owns 1,493 shares of the company’s stock worth $507,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director William F. Galtney, Jr. acquired 11,385 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the transaction, the director owned 45,491 shares of the company’s stock, valued at $13,983,023.58. This trade represents a 33.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Allan Levine bought 3,100 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average price of $306.08 per share, with a total value of $948,848.00. Following the transaction, the director directly owned 4,153 shares in the company, valued at $1,271,150.24. The trade was a 294.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Everest Group Stock Up 2.0%

Shares of NYSE EG opened at $311.16 on Friday. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $392.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 0.25 and a beta of 0.47. The business has a 50-day moving average of $336.12 and a 200-day moving average of $337.96.

Everest Group (NYSE:EG) last announced its earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The company had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the business earned $11.80 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be given a $2.00 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $8.00 annualized dividend and a yield of 2.6%. Everest Group’s payout ratio is 60.93%.

Wall Street Analyst Weigh In

EG has been the subject of several recent research reports. Evercore ISI lifted their price target on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Cantor Fitzgerald raised Everest Group to a “hold” rating in a report on Wednesday, August 13th. Citigroup initiated coverage on Everest Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Finally, Barclays decreased their target price on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $368.77.

Everest Group Company 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.