PGGM Investments Makes New $4.84 Million Investment in Everest Group, Ltd. (NYSE:EG)

PGGM Investments acquired a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,686 shares of the company's stock, valued at approximately $4,839,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in shares of Everest Group during the fourth quarter valued at $19,837,000. Headlands Technologies LLC acquired a new stake in Everest Group in the fourth quarter worth about $25,000. Truist Financial Corp acquired a new stake in Everest Group in the fourth quarter worth about $450,000. California First Leasing Corp acquired a new stake in Everest Group in the fourth quarter worth about $1,782,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Everest Group in the fourth quarter worth about $8,524,000. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Stock Performance

EG stock traded up $4.41 during midday trading on Monday, hitting $369.11. 424,278 shares of the company traded hands, compared to its average volume of 368,388. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The business has a 50 day simple moving average of $375.85 and a 200-day simple moving average of $379.41. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 3.22 and a beta of 0.56.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, beating the consensus estimate of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the company posted $12.21 earnings per share. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities research analysts predict that Everest Group, Ltd. will post 61.23 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a yield of 1.90%. Everest Group's dividend payout ratio (DPR) is currently 11.72%.

Analysts Set New Price Targets

Several equities research analysts have commented on EG shares. Citigroup cut shares of Everest Group from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. TD Cowen initiated coverage on shares of Everest Group in a research note on Wednesday, January 10th. They set a "market perform" rating and a $421.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Everest Group from $466.00 to $450.00 and set an "overweight" rating for the company in a research note on Monday, April 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Everest Group from $402.00 to $397.00 and set an "equal weight" rating for the company in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Everest Group currently has an average rating of "Moderate Buy" and a consensus target price of $432.11.

Insider Buying and Selling

In other news, CFO Mark Kociancic bought 1,000 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the transaction, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Everest Group news, CEO Mike Karmilowicz bought 285 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the purchase, the chief executive officer now owns 10,586 shares in the company, valued at approximately $3,730,400.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Kociancic bought 1,000 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $349.00 per share, with a total value of $349,000.00. Following the completion of the purchase, the chief financial officer now owns 25,733 shares of the company's stock, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Insiders bought a total of 2,485 shares of company stock valued at $874,786 over the last ninety days. 1.20% of the stock is owned by company insiders.

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.