California Public Employees Retirement System Makes New Investment in Everest Group, Ltd. (NYSE:EG)

California Public Employees Retirement System acquired a new position in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 165,056 shares of the company’s stock, valued at approximately $58,360,000. California Public Employees Retirement System owned about 0.38% of Everest Group at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in shares of Everest Group during the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC bought a new position in Everest Group in the fourth quarter worth approximately $25,000. Janiczek Wealth Management LLC bought a new position in Everest Group in the fourth quarter worth approximately $27,000. Trifecta Capital Advisors LLC bought a new position in Everest Group in the fourth quarter worth approximately $28,000. Finally, DT Investment Partners LLC bought a new position in Everest Group in the fourth quarter worth approximately $31,000. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

EG has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective 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 cut their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $452.00 to $375.00 in a report on Monday, February 12th. TD Cowen began coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted 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. 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 company’s stock. According to data from MarketBeat.com, Everest Group currently has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Everest Group Trading Up 0.0 %

EG stock opened at $365.85 on Friday. The company’s 50-day simple moving average is $376.09 and its 200-day simple moving average is $379.81. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The firm has a market cap of $19.49 billion, a P/E ratio of 6.13, a PEG ratio of 3.23 and a beta of 0.56.

Everest Group (NYSE:EG) last posted 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. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $12.21 EPS. As a group, equities analysts forecast that Everest Group, Ltd. will post 61.21 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid 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 Activity at Everest Group

In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was bought at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the acquisition, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was bought at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the acquisition, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger M. Singer acquired 500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. 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. 1.20% of the stock is owned by corporate insiders.

About Everest Group

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.