Strs Ohio Takes Position in Everest Group, Ltd. $EG

Key Points

• Strs Ohio has made a new investment of approximately $2.23 million in shares of Everest Group, Ltd., acquiring 6,149 shares during the first quarter.
• Analysts have mixed opinions on Everest Group's stock, with a consensus rating of "Hold" and a target price of $397.14, while UBS and Wolfe Research issued lower price targets and ratings.
• Everest Group recently declared a quarterly dividend of $2.00 per share, representing an annualized dividend yield of 2.4%.

Strs Ohio purchased a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,149 shares of the company's stock, valued at approximately $2,234,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Everest Group by 5.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,768 shares of the company's stock worth $1,728,000 after acquiring an additional 248 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Everest Group during the fourth quarter worth about $515,000. Quantinno Capital Management LP boosted its position in Everest Group by 24.6% during the fourth quarter. Quantinno Capital Management LP now owns 11,598 shares of the company's stock worth $4,204,000 after acquiring an additional 2,287 shares during the last quarter. ProShare Advisors LLC boosted its position in Everest Group by 12.4% during the fourth quarter. ProShare Advisors LLC now owns 13,288 shares of the company's stock worth $4,816,000 after acquiring an additional 1,465 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Everest Group by 26.4% during the fourth quarter. Royal Bank of Canada now owns 110,183 shares of the company's stock worth $39,937,000 after acquiring an additional 22,989 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Up 0.5%

Shares of NYSE:EG traded up $1.64 during trading hours on Thursday, reaching $335.29. The stock had a trading volume of 332,183 shares, compared to its average volume of 393,399. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. The firm's 50 day moving average is $336.89 and its 200-day moving average is $343.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 0.24 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the firm posted $16.85 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be given a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group's dividend payout ratio is currently 42.46%.

Wall Street Analyst Weigh In

EG has been the topic of a number of recent research reports. Cantor Fitzgerald upgraded shares of Everest Group to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company reiterated a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. UBS Group decreased their target price on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Barclays boosted their target price on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Everest Group currently has an average rating of "Hold" and a consensus target price of $389.80.

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.