Retirement Systems of Alabama Takes Position in Everest Group, Ltd. (NYSE:EG)

Retirement Systems of Alabama purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 9,565 shares of the company's stock, valued at approximately $3,382,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. California Public Employees Retirement System purchased a new position in Everest Group in the 4th quarter worth about $58,360,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Everest Group during the fourth quarter worth approximately $39,992,000. Zweig DiMenna Associates LLC purchased a new position in Everest Group during the fourth quarter valued at approximately $35,503,000. Allspring Global Investments Holdings LLC acquired a new position in Everest Group in the 4th quarter valued at approximately $31,810,000. Finally, Strs Ohio purchased a new stake in Everest Group in the 4th quarter worth approximately $23,980,000. 92.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on EG. Citigroup downgraded 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 note on Monday, February 12th. TD Cowen began coverage on shares of Everest Group in a research note on Wednesday, January 10th. They issued a "market perform" rating and a $421.00 target price for the company. Morgan Stanley dropped their price target on shares of Everest Group from $466.00 to $450.00 and set an "overweight" rating on the stock in a research note on Monday, April 15th. Keefe, Bruyette & Woods lifted 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. Finally, Wells Fargo & Company lowered their target price on shares of Everest Group from $402.00 to $397.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Everest Group currently has a consensus rating of "Moderate Buy" and an average price target of $432.11.

Insider Buying and Selling at Everest Group

In other news, COO James Allan Williamson bought 700 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $352.50 per share, with a total value of $246,750.00. Following the completion of the transaction, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO James Allan Williamson bought 700 shares of the business's stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the purchase, the chief operating officer now owns 11,749 shares of the company's stock, valued at approximately $4,141,522.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger M. Singer purchased 500 shares of the firm's stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the purchase, the director now directly owns 16,920 shares of the company's stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. Insiders purchased a total of 2,485 shares of company stock valued at $874,786 in the last ninety days. Company insiders own 1.20% of the company's stock.

Everest Group Stock Performance

Everest Group stock traded up $2.33 on Wednesday, reaching $380.97. 195,589 shares of the stock were exchanged, compared to its average volume of 369,339. The stock has a market cap of $20.29 billion, a PE ratio of 5.63, a PEG ratio of 3.25 and a beta of 0.57. The firm has a fifty day moving average price of $376.48 and a two-hundred day moving average price of $377.96. Everest Group, Ltd. has a twelve month low of $331.08 and a twelve month high of $417.92. The company has a current ratio of 0.35, a quick ratio of 0.37 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating the consensus estimate of $15.98 by $0.34. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.31 EPS. Sell-side analysts anticipate that Everest Group, Ltd. will post 61.49 EPS for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group's payout ratio is currently 10.40%.

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.