Everest Group, Ltd. (NYSE:EG) Holdings Trimmed by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 9.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,062 shares of the company's stock after selling 4,245 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Everest Group worth $14,919,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Private Trust Co. NA raised its position in shares of Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company's stock worth $71,000 after buying an additional 64 shares during the period. Metis Global Partners LLC raised its holdings in shares of Everest Group by 69.6% in the 4th quarter. Metis Global Partners LLC now owns 2,368 shares of the company's stock worth $858,000 after purchasing an additional 972 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Everest Group in the 4th quarter valued at about $31,000. State of Michigan Retirement System grew its holdings in shares of Everest Group by 0.8% during the 4th quarter. State of Michigan Retirement System now owns 12,911 shares of the company's stock worth $4,680,000 after purchasing an additional 100 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Everest Group by 1.4% during the 4th quarter. Assetmark Inc. now owns 415,638 shares of the company's stock worth $150,652,000 after purchasing an additional 5,649 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 cost of $337.97 per share, for a total transaction of $337,970.00. Following the transaction, the chief executive officer owned 25,618 shares of the company's stock, valued at $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company's stock.

Everest Group Stock Performance

Shares of NYSE:EG traded up $3.45 during trading hours on Friday, hitting $337.48. The stock had a trading volume of 295,283 shares, compared to its average volume of 403,905. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $407.30. The firm has a market capitalization of $14.35 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 0.26 and a beta of 0.51. The stock's fifty day simple moving average is $342.38 and its 200 day simple moving average is $349.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.35.

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 (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%. The company's revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $16.32 EPS. Sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors 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 dividend on an annualized basis and a yield of 2.37%. Everest Group's dividend payout ratio is presently 41.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group reduced their price target on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Raymond James Financial restated a "strong-buy" rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Janney Montgomery Scott initiated coverage on Everest Group in a research report on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective on the stock. Keefe, Bruyette & Woods decreased their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Barclays lowered their target price on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Six 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $400.33.

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.