165,056 Shares in Everest Group, Ltd. (NYSE:EG) Purchased by California Public Employees Retirement System

California Public Employees Retirement System purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 165,056 shares of the company’s stock, valued at approximately $58,360,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EG. Assenagon Asset Management S.A. bought a new stake in Everest Group during the 4th quarter worth about $1,866,000. Red Door Wealth Management LLC bought a new position in shares of Everest Group during the 4th quarter worth approximately $237,000. Uncommon Cents Investing LLC bought a new position in shares of Everest Group during the 4th quarter worth approximately $1,016,000. Traynor Capital Management Inc. bought a new position in shares of Everest Group in the fourth quarter valued at $466,000. Finally, Global Retirement Partners LLC bought a new position in shares of Everest Group in the fourth quarter valued at $102,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EG. Morgan Stanley decreased their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Wells Fargo & Company reduced their price objective on shares of 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. TD Cowen assumed coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective for the company. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Everest Group currently has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Everest Group Stock Up 0.0 %

EG opened at $365.85 on Friday. The company has a market capitalization of $19.49 billion, a P/E ratio of 6.13, a P/E/G ratio of 3.23 and a beta of 0.56. The stock has a fifty day moving average of $376.09 and a 200-day moving average of $379.81. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. 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 (NYSE:EG) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion during 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%. Everest Group’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $12.21 earnings per share. On average, equities analysts expect that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Roger M. Singer bought 500 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price 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 in the company, valued at approximately $6,043,993.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the acquisition, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Kociancic purchased 1,000 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the acquisition, the chief financial officer now owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,485 shares of company stock worth $874,786 over the last 90 days. Insiders own 1.20% of the company’s stock.

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.