Public Employees Retirement System of Ohio Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

Public Employees Retirement System of Ohio raised its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,949 shares of the company's stock after purchasing an additional 2,488 shares during the period. Public Employees Retirement System of Ohio owned 0.05% of Everest Group worth $7,956,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EG. Norges Bank bought a new stake in shares of Everest Group in the 4th quarter valued at $488,588,000. Vulcan Value Partners LLC lifted its stake in Everest Group by 279.1% in the fourth 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 during the period. Sterling Capital Management LLC grew its position in shares of Everest Group by 11,756.0% during the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock worth $100,987,000 after buying an additional 276,266 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Everest Group by 14,518.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock valued at $68,882,000 after purchasing an additional 188,740 shares during the period. Finally, Donald Smith & CO. Inc. acquired a new position in shares of Everest Group during the fourth quarter worth approximately $56,341,000. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EG has been the subject of several research reports. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Raymond James reiterated a "strong-buy" rating and set a $410.00 price objective (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Morgan Stanley upped their target price on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Evercore ISI cut their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and increased their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $398.09.

Everest Group Trading Up 3.0%

Shares of Everest Group stock traded up $10.14 during trading on Thursday, reaching $345.73. 582,030 shares of the stock were exchanged, compared to its average volume of 386,135. The stock's fifty day moving average is $348.89 and its 200 day moving average is $355.83. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The business had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period last year, the firm posted $16.32 earnings per share. Everest Group's quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $8.00 annualized dividend and a yield of 2.31%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Activity

In related news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

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.