Strs Ohio Makes New $23.98 Million Investment in Everest Group, Ltd. (NYSE:EG)

Strs Ohio bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 67,821 shares of the company’s stock, valued at approximately $23,980,000. Strs Ohio owned 0.16% of Everest Group as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP acquired a new position in shares of Everest Group during the fourth quarter worth $25,000. Janiczek Wealth Management LLC acquired a new position in shares of Everest Group during the fourth quarter worth $27,000. Trifecta Capital Advisors LLC acquired a new position in shares of Everest Group during the fourth quarter worth $28,000. Toth Financial Advisory Corp acquired a new position in shares of Everest Group during the fourth quarter worth $46,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Everest Group during the fourth quarter worth $102,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of EG opened at $359.53 on Tuesday. The business’s 50-day moving average is $376.46 and its two-hundred day moving average is $380.58. The company has a market capitalization of $15.60 billion, a P/E ratio of 6.02, a P/E/G ratio of 3.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, topping the consensus estimate of $14.63 by $10.55. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $12.21 EPS. Research analysts predict that Everest Group, Ltd. will post 61.21 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 1.95%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is currently 11.72%.

Insiders Place Their Bets

In related news, COO James Allan Williamson purchased 700 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $352.50 per share, with a total value of $246,750.00. Following the transaction, the chief operating officer now owns 11,749 shares of the company’s stock, valued at $4,141,522.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO James Allan Williamson bought 700 shares of the stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $352.50 per share, with a total value of $246,750.00. Following the purchase, the chief operating officer now directly owns 11,749 shares in the company, valued at approximately $4,141,522.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mike Karmilowicz bought 285 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the purchase, the chief executive officer now owns 10,586 shares in the company, valued at $3,730,400.54. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 2,485 shares of company stock valued at $874,786. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.