Los Angeles Capital Management LLC Sells 63,824 Shares of Everest Group, Ltd. (NYSE:EG)

Los Angeles Capital Management LLC lowered its stake in Everest Group, Ltd. (NYSE:EG) by 62.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,919 shares of the company’s stock after selling 63,824 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Everest Group were worth $13,744,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Everest Group in the third quarter valued at approximately $39,000. Private Trust Co. NA lifted its stake in Everest Group by 51.7% in the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after buying an additional 45 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Everest Group in the third quarter worth $64,000. Avior Wealth Management LLC boosted its holdings in Everest Group by 22.4% during the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after purchasing an additional 47 shares during the last quarter. Finally, Steph & Co. boosted its holdings in Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock worth $133,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

EG has been the subject of several recent research reports. Morgan Stanley restated an “equal weight” rating and set a $340.00 target price (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. TD Cowen reduced their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and increased their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Wells Fargo & Company reduced 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. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $416.50.

Everest Group Stock Performance

NYSE EG opened at $344.09 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $352.76 and its two-hundred day moving average price is $370.42. Everest Group, Ltd. has a 1 year low of $327.37 and a 1 year high of $407.30. The firm has a market capitalization of $14.79 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 0.24 and a beta of 0.65.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) 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%. As a group, research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current year.

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.