Retirement Systems of Alabama Invests $3.38 Million in Everest Group, Ltd. (NYSE:EG)

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

Several other institutional investors also recently bought and sold shares of EG. California Public Employees Retirement System acquired a new stake in shares of Everest Group in the 4th quarter valued at approximately $58,360,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Everest Group during the 4th quarter worth $39,992,000. Zweig DiMenna Associates LLC acquired a new position in shares of Everest Group during the 4th quarter worth $35,503,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Everest Group in the 4th quarter valued at about $31,810,000. Finally, Strs Ohio acquired a new stake in shares of Everest Group in the fourth quarter valued at about $23,980,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Mark Kociancic bought 1,000 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the purchase, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO James Allan Williamson acquired 700 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $352.50 per share, with a total value of $246,750.00. Following the acquisition, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Kociancic purchased 1,000 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the transaction, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Insiders acquired a total of 2,485 shares of company stock worth $874,786 over the last ninety days. 1.20% of the stock is owned by company insiders.

Everest Group Stock Down 0.1 %

EG opened at $378.75 on Wednesday. The firm has a market cap of $20.17 billion, a P/E ratio of 5.63, a PEG ratio of 3.25 and a beta of 0.57. Everest Group, Ltd. has a 52 week low of $331.08 and a 52 week high of $417.92. The company has a quick ratio of 0.37, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $376.48 and its 200 day simple moving average is $377.96.

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

Everest Group Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on EG. Wells Fargo & Company lowered their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. TD Cowen initiated coverage on Everest Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price objective for the company. Keefe, Bruyette & Woods lifted 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. Morgan Stanley lowered their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, Citigroup downgraded 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 research note on Monday, February 12th. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

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.