New York State Common Retirement Fund Buys Shares of 37,538 Everest Group, Ltd. (NYSE:EG)

New York State Common Retirement Fund purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,538 shares of the company’s stock, valued at approximately $13,273,000. New York State Common Retirement Fund owned about 0.09% of Everest Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EG. California Public Employees Retirement System bought a new position in Everest Group during the fourth quarter worth about $58,360,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Everest Group in the 4th quarter worth approximately $39,992,000. Zweig DiMenna Associates LLC purchased a new position in Everest Group in the 4th quarter valued at approximately $35,503,000. Allspring Global Investments Holdings LLC bought a new stake in Everest Group during the 4th quarter valued at $31,810,000. Finally, Strs Ohio purchased a new stake in shares of Everest Group during the fourth quarter worth $23,980,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 1.2 %

Shares of Everest Group stock opened at $369.11 on Tuesday. The company has a 50 day simple moving average of $375.85 and a two-hundred day simple moving average of $379.41. The firm has a market cap of $19.66 billion, a PE ratio of 6.18, a PEG ratio of 3.22 and a beta of 0.56. Everest Group, Ltd. has a 1 year low of $331.08 and a 1 year high of $417.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.63 by $10.55. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period in the previous year, the business earned $12.21 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. Analysts expect that Everest Group, Ltd. will post 61.23 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a dividend yield of 1.90%. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

Analyst Ratings Changes

Several brokerages have recently weighed in on EG. Wells Fargo & Company reduced their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $452.00 to $375.00 in a research report on Monday, February 12th. TD Cowen began coverage on shares of Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Finally, Morgan Stanley cut their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Insider Buying and Selling

In other Everest Group news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the transaction, the director now directly owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Everest Group news, Director Roger M. Singer purchased 500 shares of the stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $357.21 per share, with a total value of $178,605.00. Following the completion of the purchase, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James Allan Williamson acquired 700 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the purchase, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The disclosure for this purchase can be found here. Insiders bought 2,485 shares of company stock worth $874,786 in the last quarter. 1.20% of the stock is owned by insiders.

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.