Teacher Retirement System of Texas Takes Position in Everest Group, Ltd. (NYSE:EG)

Teacher Retirement System of Texas acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,286 shares of the company's stock, valued at approximately $2,284,000.

Several other large investors also recently bought and sold shares of EG. Sunbelt Securities Inc. purchased a new stake in shares of Everest Group in the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Everest Group in the 4th quarter valued at approximately $31,000. Tsfg LLC purchased a new stake in shares of Everest Group in the 1st quarter valued at approximately $33,000. Optiver Holding B.V. purchased a new stake in shares of Everest Group in the 4th quarter valued at approximately $51,000. Finally, Bruce G. Allen Investments LLC grew its stake in shares of Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock valued at $56,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

Insider Transactions at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of Everest Group stock in a transaction on Wednesday, June 11th. The shares were bought at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer directly owned 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on EG. Evercore ISI dropped their price target on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company increased their price target on shares of Everest Group from $361.00 to $362.00 and gave the company an "equal weight" rating in a research note on Thursday. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and increased their price target for the company from $376.00 to $415.00 in a research note on Friday, April 11th. UBS Group lowered their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $410.00 price objective (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $400.83.

Everest Group Stock Down 0.4%

Everest Group stock traded down $1.27 during mid-day trading on Friday, reaching $339.18. 294,103 shares of the company's stock were exchanged, compared to its average volume of 405,934. The company has a market cap of $14.43 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.27 and a beta of 0.51. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $341.09 and a 200-day moving average of $348.75.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. Everest Group's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $16.32 earnings per share. Sell-side analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.36%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

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.