State of New Jersey Common Pension Fund D Buys New Position in Everest Group, Ltd. (NYSE:EG)

State of New Jersey Common Pension Fund D bought a new stake in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, HoldingsChannel reports. The fund bought 24,107 shares of the company’s stock, valued at approximately $8,524,000.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in Everest Group during the 4th quarter valued at approximately $25,000. Avior Wealth Management LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at approximately $25,000. Janiczek Wealth Management LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at approximately $27,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Everest Group in the fourth quarter valued at approximately $28,000. Finally, DT Investment Partners LLC purchased a new stake in shares of Everest Group in the fourth quarter valued at approximately $31,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EG has been the topic of a number of analyst reports. 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 note on Monday, April 15th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $452.00 to $375.00 in a research note on Monday, February 12th. 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 target on the stock. Wells Fargo & Company decreased their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Insider Transactions at Everest Group

In related news, Director Roger M. Singer purchased 500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $357.21 per share, with a total value of $178,605.00. Following the completion of the acquisition, the director now directly owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Everest Group news, Director Roger M. Singer bought 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the purchase, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Kociancic bought 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $349.00 per share, with a total value of $349,000.00. Following the transaction, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at $8,980,817. The disclosure for this purchase can be found here. Insiders purchased a total of 2,485 shares of company stock valued at $874,786 over the last three months. 1.20% of the stock is currently owned by insiders.

Everest Group Price Performance

Shares of NYSE EG traded down $1.06 during trading on Friday, reaching $364.70. The company had a trading volume of 294,127 shares, compared to its average volume of 367,693. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The stock has a market capitalization of $19.42 billion, a PE ratio of 6.11, a price-to-earnings-growth ratio of 3.23 and a beta of 0.56. The stock has a 50-day moving average price of $375.92 and a two-hundred day moving average price of $379.71. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the firm posted $12.21 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Everest Group, Ltd. will post 61.21 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.92%. Everest Group’s dividend payout ratio (DPR) is 11.72%.

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.