Employees Retirement System of Texas Makes New Investment in Everest Group, Ltd. $EG

Employees Retirement System of Texas bought a new stake in Everest Group, Ltd. (NYSE:EG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,754 shares of the company’s stock, valued at approximately $9,432,000. Employees Retirement System of Texas owned 0.07% of Everest Group at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. SVB Wealth LLC purchased a new position in Everest Group in the 1st quarter valued at $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group in the 1st quarter worth $34,000. Board of the Pension Protection Fund purchased a new stake in shares of Everest Group in the second quarter valued at about $34,000. WPG Advisers LLC acquired a new position in shares of Everest Group during the first quarter worth about $37,000. Finally, Allworth Financial LP increased its stake in shares of Everest Group by 96.8% during the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after acquiring an additional 90 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Everest Group in a report on Monday, November 3rd. Barclays reduced their price target on Everest Group from $425.00 to $365.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Cowen reaffirmed a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Citigroup started coverage on Everest Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective for the company. Finally, Wolfe Research upgraded shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $368.77.

Everest Group Stock Performance

NYSE EG opened at $312.17 on Thursday. The business has a 50 day moving average price of $334.76 and a 200 day moving average price of $337.26. The company has a market capitalization of $13.10 billion, a P/E ratio of 23.78, a PEG ratio of 0.25 and a beta of 0.47. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $392.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

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

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s dividend payout ratio is presently 60.93%.

Insider Activity

In other Everest Group news, Director William F. Galtney, Jr. acquired 11,385 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was acquired at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the purchase, the director directly owned 45,491 shares in the company, valued at approximately $13,983,023.58. This trade represents a 33.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Allan Levine acquired 3,100 shares of the business’s stock in a transaction that occurred on 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. The trade was a 294.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.10% of the company’s stock.

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.