Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in Everest Group, Ltd. (NYSE:EG)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Everest Group, Ltd. (NYSE:EG) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,163 shares of the company’s stock after selling 589 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Everest Group were worth $42,104,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in shares of Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock valued at $8,225,000 after acquiring an additional 13,687 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Everest Group by 19.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after purchasing an additional 12,791 shares in the last quarter. Brophy Wealth Management LLC purchased a new position in shares of Everest Group during the 3rd quarter worth approximately $749,000. Intech Investment Management LLC lifted its holdings in shares of Everest Group by 13.1% in the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock valued at $10,706,000 after buying an additional 3,166 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Everest Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after buying an additional 2,818 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of NYSE:EG opened at $333.70 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The business’s fifty day moving average price is $359.49 and its two-hundred day moving average price is $373.10. The stock has a market cap of $14.34 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.22 and a beta of 0.65. Everest Group, Ltd. has a one year low of $333.05 and a one year high of $407.30.

Everest Group (NYSE:EG) last posted its quarterly earnings data 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%. On average, analysts forecast that Everest Group, Ltd. will post 53.11 EPS for the current fiscal year.

Insider Transactions at Everest Group

In other news, COO James Allan Williamson sold 200 shares of Everest Group 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 completion of the sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EG shares. Morgan Stanley reiterated 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 shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Wells Fargo & Company dropped their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group lowered 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 note on Tuesday, November 26th. Finally, Barclays raised their price objective on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Everest Group currently has an average rating of “Hold” and an average price target of $411.89.

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.