Illinois Municipal Retirement Fund Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

Illinois Municipal Retirement Fund raised its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 52.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,778 shares of the company's stock after buying an additional 7,830 shares during the period. Illinois Municipal Retirement Fund's holdings in Everest Group were worth $8,276,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Atria Wealth Solutions Inc. bought a new position in Everest Group in the 4th quarter worth $325,000. Mn Services Vermogensbeheer B.V. lifted its holdings in Everest Group by 5.9% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 18,000 shares of the company's stock valued at $6,524,000 after purchasing an additional 1,000 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Everest Group by 172.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 17,071 shares of the company's stock valued at $6,188,000 after purchasing an additional 10,814 shares during the period. Proficio Capital Partners LLC purchased a new stake in Everest Group in the 4th quarter worth $10,247,000. Finally, QRG Capital Management Inc. lifted its position in shares of Everest Group by 0.4% in the fourth quarter. QRG Capital Management Inc. now owns 38,715 shares of the company's stock valued at $14,033,000 after acquiring an additional 150 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

Shares of Everest Group stock traded up $0.89 during trading on Tuesday, hitting $340.74. 318,046 shares of the company's stock were exchanged, compared to its average volume of 402,211. The business has a 50-day simple moving average of $343.84 and a 200-day simple moving average of $349.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.26 and a beta of 0.53. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). The business had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. Everest Group's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $16.32 EPS. On average, research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were given a $2.00 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.35%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EG shares. Morgan Stanley increased their price objective on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company dropped their price objective on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Raymond James Financial restated a "strong-buy" rating and set a $410.00 target price (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Janney Montgomery Scott assumed coverage on Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 target price for the company. Finally, Evercore ISI decreased their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $400.33.

Insider Activity

In other news, CEO James Allan Williamson acquired 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were bought at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.