Public Employees Retirement System of Ohio Decreases Stake in Everest Group, Ltd. $EG

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Everest Group, Ltd. by 4.6% during the second quarter, now holding 17,825 shares valued at approximately $6.06 million.
• Everest Group reported an EPS of $17.36 for the last quarter, exceeding analyst estimates, with revenue of $4.49 billion, a 6.2% increase year-over-year.
• The company has declared a quarterly dividend of $2.00, leading to an annualized dividend yield of 2.3%.

Public Employees Retirement System of Ohio reduced its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 4.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,825 shares of the company's stock after selling 863 shares during the period. Public Employees Retirement System of Ohio's holdings in Everest Group were worth $6,058,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EG. SVB Wealth LLC purchased a new position in shares of Everest Group in the first quarter worth about $30,000. Tsfg LLC purchased a new stake in shares of Everest Group during the 1st quarter valued at approximately $33,000. Zions Bancorporation National Association UT bought a new position in Everest Group in the 1st quarter worth approximately $34,000. WPG Advisers LLC purchased a new position in Everest Group in the 1st quarter valued at approximately $37,000. Finally, Bruce G. Allen Investments LLC raised its holdings in Everest Group by 79.1% during the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock valued at $56,000 after acquiring an additional 68 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EG has been the subject of a number of analyst reports. Citigroup assumed coverage on Everest Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price target for the company. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Janney Montgomery Scott initiated coverage on Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 target price for the company. Wells Fargo & Company reissued a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Finally, Wolfe Research upgraded shares of Everest Group to a "strong sell" rating in a research report on Tuesday, September 16th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $387.47.

Everest Group Price Performance

EG stock opened at $349.65 on Monday. The firm has a 50 day simple moving average of $337.62 and a two-hundred day simple moving average of $342.78. The stock has a market cap of $14.66 billion, a PE ratio of 18.56, a P/E/G ratio of 0.26 and a beta of 0.51. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $407.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the firm posted $16.85 EPS. The firm's revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Everest Group's dividend payout ratio is presently 42.46%.

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.

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