South Dakota Investment Council Acquires 4,800 Shares of Everest Group, Ltd. $EG

South Dakota Investment Council grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,981 shares of the company’s stock after buying an additional 4,800 shares during the quarter. Everest Group makes up about 0.7% of South Dakota Investment Council’s investment portfolio, making the stock its 16th biggest position. South Dakota Investment Council owned 0.24% of Everest Group worth $35,338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EG. Truist Financial Corp lifted its position in Everest Group by 16.9% during the 1st quarter. Truist Financial Corp now owns 108,596 shares of the company’s stock worth $39,456,000 after buying an additional 15,660 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Everest Group by 12.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company’s stock valued at $62,753,000 after acquiring an additional 18,780 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Everest Group by 7.9% in the first quarter. Principal Financial Group Inc. now owns 55,123 shares of the company’s stock worth $20,028,000 after acquiring an additional 4,021 shares during the last quarter. World Investment Advisors boosted its holdings in Everest Group by 72.0% in the first quarter. World Investment Advisors now owns 1,827 shares of the company’s stock valued at $664,000 after acquiring an additional 765 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Everest Group by 25.3% in the second quarter. Exchange Traded Concepts LLC now owns 3,647 shares of the company’s stock worth $1,239,000 after purchasing an additional 737 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Citigroup started coverage on shares of Everest Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their target price on Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Wolfe Research upgraded shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $374.14.

Everest Group Price Performance

Shares of NYSE EG opened at $315.10 on Friday. The firm’s 50-day moving average price is $343.06 and its 200-day moving average price is $341.24. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $392.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $13.22 billion, a P/E ratio of 24.00, a P/E/G ratio of 0.25 and a beta of 0.48.

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

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.5%. Everest Group’s dividend payout ratio is 60.93%.

Insider Activity

In other Everest Group news, Director Allan Levine purchased 3,100 shares of the stock in a transaction dated Wednesday, October 29th. The shares were bought at an average price of $306.08 per share, with a total value of $948,848.00. Following the completion of the transaction, the director directly owned 4,153 shares in the company, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Galtney, Jr. purchased 11,385 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were acquired at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the purchase, the director directly owned 45,491 shares in the company, valued at $13,983,023.58. This represents a 33.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by company 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.