National Pension Service Has $3.22 Million Stake in Everest Group, Ltd. $EG

Key Points

• National Pension Service increased its Everest Group stake by 83.2% in the second quarter, bringing its holdings to 9,007 shares valued at approximately $3.22 million. Institutional investors collectively own 92.64% of the company.
• Analysts maintain a generally cautious outlook, with four Buy ratings and twelve Hold ratings. The consensus rating is Hold, with an average price target of $395.27 versus the stock’s reported price of $372.22.
• Everest Group reported quarterly earnings of $14.85 per share on $3.96 billion in revenue and declared a quarterly dividend of $2.00, equivalent to an annualized $8.00 payout and a 2.1% yield.

National Pension Service raised its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 83.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,007 shares of the company's stock after purchasing an additional 4,090 shares during the period. National Pension Service's holdings in Everest Group were worth $3,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Algebris UK Ltd. bought a new position in Everest Group during the 4th quarter worth $23,460,000. California State Teachers Retirement System grew its holdings in shares of Everest Group by 29,666.3% during the 2nd quarter. California State Teachers Retirement System now owns 18,597,394 shares of the company's stock worth $6,643,547,000 after purchasing an additional 18,534,916 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Everest Group by 7.7% during the 1st 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 position in shares of Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock worth $176,205,000 after purchasing an additional 515,063 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Everest Group by 507.4% in the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company's stock worth $147,102,000 after purchasing an additional 375,846 shares during the period. Institutional investors and hedge funds own 92.64% of the company's stock.

Wall Street Analyst Weigh In

EG has been the subject of several recent analyst reports. 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. Wells Fargo & Company raised their target price on shares of Everest Group from $373.00 to $396.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. UBS Group upped their price target on shares of Everest Group from $374.00 to $395.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Mizuho reduced their price target on shares of Everest Group from $418.00 to $416.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Finally, Atlantic Securities set a $484.00 price objective on shares of Everest Group in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $395.27.

Everest Group Stock Performance

Everest Group stock opened at $372.22 on Monday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $401.07. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The business's 50-day moving average price is $374.65 and its two-hundred day moving average price is $351.28. The stock has a market cap of $14.27 billion, a PE ratio of 7.87, a P/E/G ratio of 0.73 and a beta of 0.28.

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

Everest Group Announces Dividend

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

Everest Group Company 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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