Canada Pension Plan Investment Board Sells 16,300 Shares of Everest Group, Ltd. (NYSE:EG)

Canada Pension Plan Investment Board decreased its holdings in Everest Group, Ltd. (NYSE:EG) by 64.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,880 shares of the company’s stock after selling 16,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Everest Group were worth $3,383,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. American National Bank purchased a new stake in Everest Group in the 2nd quarter valued at about $27,000. FinTrust Capital Advisors LLC purchased a new stake in Everest Group in the 4th quarter valued at about $33,000. Massmutual Trust Co. FSB ADV purchased a new stake in Everest Group in the 1st quarter valued at about $33,000. Hollencrest Capital Management increased its stake in Everest Group by 575.0% in the 1st quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock valued at $54,000 after buying an additional 115 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Everest Group in the 1st quarter valued at about $61,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 0.1 %

EG opened at $382.85 on Thursday. The company has a 50 day moving average of $380.98 and a 200 day moving average of $380.31. The company has a market cap of $16.49 billion, a PE ratio of 5.69, a price-to-earnings-growth ratio of 2.69 and a beta of 0.62. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $15.21 earnings per share. On average, sell-side analysts expect that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, September 16th. Everest Group’s payout ratio is 11.89%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Morgan Stanley decreased their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Barclays initiated coverage on shares of Everest Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price target for the company. Bank of America raised their price target on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets restated a “market perform” rating and set a $403.00 price target on shares of Everest Group in a research note on Friday, August 30th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $438.09.

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.