VIRGINIA RETIREMENT SYSTEMS ET Al Invests $28.79 Million in Everest Group, Ltd. $EG

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 84,700 shares of the company’s stock, valued at approximately $28,785,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.20% of Everest Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp lifted its position in Everest Group by 16.9% in the 1st quarter. Truist Financial Corp now owns 108,596 shares of the company’s stock valued at $39,456,000 after acquiring an additional 15,660 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Everest Group by 12.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company’s stock valued at $62,753,000 after acquiring an additional 18,780 shares in the last quarter. Sowell Financial Services LLC bought a new position in Everest Group in the 1st quarter valued at approximately $231,000. DAVENPORT & Co LLC lifted its position in Everest Group by 17.1% in the 1st quarter. DAVENPORT & Co LLC now owns 22,874 shares of the company’s stock valued at $8,311,000 after acquiring an additional 3,344 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Everest Group by 7.9% in the 1st quarter. Principal Financial Group Inc. now owns 55,123 shares of the company’s stock valued at $20,028,000 after acquiring an additional 4,021 shares in the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Trading Up 2.5%

NYSE:EG opened at $349.46 on Monday. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $392.78. 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 has a market capitalization of $14.66 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. The business has a fifty day moving average price of $343.85 and a 200-day moving average price of $341.84.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the business posted $16.85 EPS. Everest Group’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s dividend payout ratio is presently 42.46%.

Analyst Ratings Changes

Several equities analysts recently issued reports on EG shares. Wells Fargo & Company upped their price objective on Everest Group from $371.00 to $383.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Citigroup initiated coverage on Everest Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price target on the stock. UBS Group lowered their price target on Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, July 9th. Evercore ISI increased their price target on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Finally, Raymond James Financial set a $375.00 price target on Everest Group and gave the company an “outperform” rating in a report on Monday, September 22nd. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $382.79.

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.