Maryland State Retirement & Pension System Sells 83 Shares of Everest Group, Ltd. (NYSE:EG)

Maryland State Retirement & Pension System cut its stake in shares of Everest Group, Ltd. (NYSE:EG) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,382 shares of the company’s stock after selling 83 shares during the period. Maryland State Retirement & Pension System’s holdings in Everest Group were worth $863,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Everest Group during the fourth quarter valued at about $31,000. Brooklyn Investment Group purchased a new stake in Everest Group in the 3rd quarter valued at about $39,000. Private Trust Co. NA lifted its position in shares of Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after buying an additional 45 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Everest Group in the 3rd quarter worth approximately $64,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Everest Group by 43.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after acquiring an additional 64 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

Shares of EG stock opened at $353.19 on Monday. The firm’s 50 day moving average is $350.90 and its 200 day moving average is $367.09. The stock has a market capitalization of $15.16 billion, a P/E ratio of 11.24, a PEG ratio of 0.24 and a beta of 0.61. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 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 posted its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.27%. Everest Group’s dividend payout ratio is currently 25.47%.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EG. Barclays boosted their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley restated an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $416.50.

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.