California State Teachers Retirement System Makes New $23.79 Million Investment in Everest Group, Ltd. (NYSE:EG)

California State Teachers Retirement System acquired a new stake in Everest Group, Ltd. (NYSE:EGFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,294 shares of the company’s stock, valued at approximately $23,794,000. California State Teachers Retirement System owned 0.16% of Everest Group at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Morgan Stanley decreased their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, Wells Fargo & Company cut 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. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Get Our Latest Research Report on Everest Group

Everest Group Stock Performance

Everest Group stock opened at $380.40 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. The stock has a market cap of $16.53 billion, a PE ratio of 5.65, a P/E/G ratio of 3.37 and a beta of 0.62. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-month high of $417.92. The business’s 50-day moving average price is $379.31 and its two-hundred day moving average price is $377.61.

Everest Group (NYSE:EGGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm posted $11.31 EPS. As a group, analysts expect that Everest Group, Ltd. will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Wednesday, May 29th. Everest Group’s dividend payout ratio is presently 11.89%.

About Everest Group

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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