Strs Ohio Increases Stock Position in Everest Group, Ltd. $EG

Strs Ohio boosted its stake in Everest Group, Ltd. (NYSE:EG) by 25.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,692 shares of the company’s stock after acquiring an additional 1,543 shares during the period. Strs Ohio’s holdings in Everest Group were worth $2,614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Impact Partnership Wealth LLC lifted its position in Everest Group by 20.4% in the second quarter. Impact Partnership Wealth LLC now owns 1,159 shares of the company’s stock valued at $394,000 after acquiring an additional 196 shares during the last quarter. Atria Investments Inc increased its stake in Everest Group by 5.5% in the second quarter. Atria Investments Inc now owns 1,316 shares of the company’s stock valued at $447,000 after purchasing an additional 69 shares during the period. Assetmark Inc. increased its stake in Everest Group by 9.7% in the second quarter. Assetmark Inc. now owns 446,569 shares of the company’s stock valued at $151,766,000 after purchasing an additional 39,346 shares during the period. New York Life Investment Management LLC increased its stake in Everest Group by 3.6% in the second quarter. New York Life Investment Management LLC now owns 6,432 shares of the company’s stock valued at $2,186,000 after purchasing an additional 223 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Everest Group by 8.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,787 shares of the company’s stock valued at $4,006,000 after purchasing an additional 900 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Everest Group Stock Down 0.3%

Shares of NYSE EG opened at $313.44 on Tuesday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $392.78. The company has a market capitalization of $13.15 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 0.25 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The firm’s 50-day moving average is $342.50 and its two-hundred day moving average is $340.93.

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

Everest Group Dividend Announcement

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

Analysts Set New Price Targets

EG has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Wolfe Research upgraded shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $372.36.

About Everest Group

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.