Teacher Retirement System of Texas Buys 196 Shares of Everest Group, Ltd. $EG

Teacher Retirement System of Texas increased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,482 shares of the company’s stock after acquiring an additional 196 shares during the quarter. Teacher Retirement System of Texas’ holdings in Everest Group were worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Y Intercept Hong Kong Ltd grew its position in Everest Group by 67.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 3,007 shares of the company’s stock worth $1,022,000 after acquiring an additional 1,206 shares during the last quarter. Transcend Capital Advisors LLC bought a new position in Everest Group during the 2nd quarter worth approximately $307,000. Brighton Jones LLC bought a new position in Everest Group during the 2nd quarter worth approximately $875,000. MQS Management LLC bought a new position in Everest Group during the 2nd quarter worth approximately $388,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in Everest Group during the 2nd quarter worth approximately $610,000. 92.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Everest Group

In related news, Director Allan Levine bought 3,100 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average cost of $306.08 per share, with a total value of $948,848.00. Following the completion of the purchase, the director owned 4,153 shares in the company, valued at approximately $1,271,150.24. The trade was a 294.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. bought 11,385 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was bought at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the purchase, the director owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. The trade was a 33.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on EG. Wells Fargo & Company reduced their price target on Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. Cowen reiterated a “hold” rating on shares of Everest Group in a research report on Tuesday, October 7th. Cantor Fitzgerald raised Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Evercore ISI boosted their target price on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen cut Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $372.36.

Everest Group Trading Down 0.3%

NYSE EG opened at $313.44 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $392.78. The firm has a market capitalization of $13.15 billion, a PE ratio of 23.87, a P/E/G ratio of 0.25 and a beta of 0.48. The stock’s 50 day moving average is $342.50 and its 200 day moving average is $340.93.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The firm had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the firm earned $11.80 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. Everest Group’s payout ratio is currently 60.93%.

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.