Retirement Systems of Alabama Takes Position in Everest Group, Ltd. (NYSE:EG)

Retirement Systems of Alabama bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 9,565 shares of the company’s stock, valued at approximately $3,382,000.

Other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System acquired a new stake in shares of Everest Group during the fourth quarter worth approximately $58,360,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Everest Group during the 4th quarter worth approximately $39,992,000. Zweig DiMenna Associates LLC acquired a new stake in Everest Group during the 4th quarter valued at $35,503,000. Allspring Global Investments Holdings LLC bought a new position in Everest Group in the 4th quarter valued at $31,810,000. Finally, Strs Ohio acquired a new position in Everest Group in the fourth quarter worth $23,980,000. 92.64% of the stock is owned by institutional investors.

Everest Group Price Performance

Shares of EG stock opened at $378.75 on Wednesday. The firm’s 50 day moving average price is $376.48 and its two-hundred day moving average price is $377.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.37 and a current ratio of 0.35. Everest Group, Ltd. has a 52-week low of $331.08 and a 52-week high of $417.92. The stock has a market cap of $20.17 billion, a PE ratio of 5.63, a PEG ratio of 3.25 and a beta of 0.57.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $11.31 EPS. As a group, analysts forecast that Everest Group, Ltd. will post 61.49 EPS for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.85%. Everest Group’s dividend payout ratio is 10.40%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Roger M. Singer bought 500 shares of the stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the purchase, the director now 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 accessible through this hyperlink. 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, with a total value 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mike Karmilowicz acquired 285 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $352.39 per share, with a total value of $100,431.15. Following the transaction, 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. Insiders have bought 2,485 shares of company stock valued at $874,786 in the last 90 days. 1.20% of the stock is owned by insiders.

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.