New York State Common Retirement Fund Has $16.24 Million Stake in Everest Group, Ltd. (NYSE:EG)

New York State Common Retirement Fund lifted its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,703 shares of the company's stock after acquiring an additional 6,160 shares during the period. New York State Common Retirement Fund owned 0.09% of Everest Group worth $16,242,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Everest Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock valued at $2,015,288,000 after buying an additional 43,793 shares in the last quarter. Norges Bank acquired a new position in Everest Group during the 4th quarter valued at about $488,588,000. Franklin Resources Inc. increased its position in Everest Group by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after buying an additional 4,544 shares in the last quarter. Geode Capital Management LLC increased its position in Everest Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after buying an additional 8,321 shares in the last quarter. Finally, Vulcan Value Partners LLC increased its position in Everest Group by 279.1% during the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after buying an additional 720,572 shares in the last quarter. 92.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EG shares. Janney Montgomery Scott started coverage on Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective on the stock. UBS Group cut their price objective on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Barclays raised their target price on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Morgan Stanley lifted their price target on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods lifted their price target on Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $400.83.

Insiders Place Their Bets

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

Everest Group Stock Down 0.4%

Shares of NYSE EG traded down $1.35 during midday trading on Friday, reaching $332.65. 269,573 shares of the company's stock were exchanged, compared to its average volume of 403,021. 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 $14.15 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The business's fifty day moving average price is $339.89 and its two-hundred day moving average price is $347.80.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The business's revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $16.32 earnings per share. 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. Shareholders of record on Wednesday, May 28th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.40%. Everest Group's dividend payout ratio (DPR) is 41.15%.

Everest Group Company 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.