Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stake in Everest Group, Ltd. (NYSE:EG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Everest Group, Ltd. (NYSE:EG) by 3.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,139 shares of the company’s stock after selling 281 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Everest Group were worth $3,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Royal London Asset Management Ltd. increased its holdings in shares of Everest Group by 0.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 38,357 shares of the company’s stock valued at $13,903,000 after acquiring an additional 184 shares during the last quarter. Credit Capital Investments LLC purchased a new position in shares of Everest Group in the 4th quarter valued at about $326,000. Xponance Inc. increased its holdings in shares of Everest Group by 3.1% in the 4th quarter. Xponance Inc. now owns 7,129 shares of the company’s stock valued at $2,584,000 after acquiring an additional 216 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Everest Group by 133.2% in the 4th quarter. Intech Investment Management LLC now owns 63,708 shares of the company’s stock valued at $23,092,000 after purchasing an additional 36,384 shares during the period. Finally, Delphi Management Inc. MA boosted its position in shares of Everest Group by 13.1% in the 4th quarter. Delphi Management Inc. MA now owns 4,272 shares of the company’s stock valued at $1,548,000 after purchasing an additional 494 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Transactions at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EG. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Wells Fargo & Company decreased their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their target price for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, Barclays upped their target price on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average price target of $416.50.

Everest Group Stock Down 0.5 %

Everest Group stock opened at $353.19 on Monday. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.24 and a beta of 0.61. The stock has a 50 day moving average of $350.90 and a two-hundred day moving average of $367.09. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last issued its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is 25.47%.

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.