California State Teachers Retirement System Has $18.60 Million Stake in Everest Group, Ltd. $EG

California State Teachers Retirement System lessened its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,060 shares of the company's stock after selling 10,418 shares during the quarter. California State Teachers Retirement System owned 0.14% of Everest Group worth $18,597,394 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EG. Algebris UK Ltd. bought a new stake in Everest Group during the fourth quarter worth $23,460,000. Bank of America Corp DE increased its stake in shares of Everest Group by 7.7% in the first quarter. Bank of America Corp DE now owns 233,326 shares of the company's stock worth $76,263,000 after purchasing an additional 16,701 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Everest Group by 12,322.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock worth $176,205,000 after acquiring an additional 515,063 shares during the last quarter. National Pension Service increased its stake in shares of Everest Group by 13.2% during the fourth quarter. National Pension Service now owns 44,113 shares of the company's stock valued at $14,970,000 after buying an additional 5,157 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Everest Group during the 2nd quarter valued at approximately $9,122,000. Institutional investors own 92.64% of the company's stock.

Everest Group Price Performance

Shares of NYSE EG traded down $0.38 during mid-day trading on Tuesday, hitting $379.16. 133,343 shares of the company's stock traded hands, compared to its average volume of 366,362. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $401.07. The company has a market capitalization of $14.54 billion, a P/E ratio of 8.03, a PEG ratio of 0.73 and a beta of 0.28. The company's 50-day moving average is $374.77 and its two-hundred day moving average is $351.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. The firm had revenue of $3.96 billion during the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. On average, equities analysts anticipate that Everest Group, Ltd. will post 53.2 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group's payout ratio is 16.92%.

Analyst Ratings Changes

A number of research analysts recently weighed in on EG shares. Mizuho dropped their price objective on shares of Everest Group from $418.00 to $416.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Evercore set a $377.00 target price on Everest Group in a report on Thursday, July 30th. Cantor Fitzgerald upped their price target on shares of Everest Group from $344.00 to $390.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $411.00 to $414.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Everest Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, Everest Group presently has a consensus rating of "Hold" and a consensus target price of $403.00.

Everest Group Profile

Everest Group, Ltd. NYSE: EG is a global insurance and reinsurance company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides property and casualty insurance and reinsurance products to businesses, insurers and other institutional clients.

Everest's reinsurance operations cover a range of property, casualty and specialty risks, while its insurance business offers commercial coverage in areas such as property, casualty, specialty, marine, accident and health.

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