Maryland State Retirement & Pension System Takes Position in Everest Group, Ltd. (NYSE:EG)

Maryland State Retirement & Pension System bought a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,286 shares of the company's stock, valued at approximately $1,162,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC purchased a new stake in Everest Group during the fourth quarter valued at about $563,000. Leuthold Group LLC bought a new position in shares of Everest Group in the fourth quarter worth approximately $6,672,000. Metis Global Partners LLC bought a new position in shares of Everest Group in the fourth quarter worth approximately $496,000. Avidian Wealth Solutions LLC bought a new position in Everest Group during the fourth quarter valued at approximately $836,000. Finally, National Bank of Canada FI bought a new position in Everest Group during the fourth quarter valued at approximately $3,080,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The stock was purchased 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 in the company, valued at approximately $6,043,993.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Everest Group news, CEO Mike Karmilowicz acquired 285 shares of the business's stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the purchase, the chief executive officer now directly owns 10,586 shares of the company's stock, valued at $3,730,400.54. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger M. Singer bought 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now 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 bought a total of 2,485 shares of company stock worth $874,786 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

Everest Group Stock Performance

EG stock traded down $0.44 on Thursday, hitting $380.53. The company had a trading volume of 140,372 shares, compared to its average volume of 366,794. Everest Group, Ltd. has a 12-month low of $331.08 and a 12-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. The stock's 50-day simple moving average is $376.69 and its 200 day simple moving average is $377.98. The stock has a market cap of $20.27 billion, a price-to-earnings ratio of 5.66, a P/E/G ratio of 3.25 and a beta of 0.57.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping the consensus estimate of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The company's revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the company posted $11.31 EPS. As a group, equities research analysts expect that Everest Group, Ltd. will post 61.49 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.84%. Everest Group's dividend payout ratio is presently 10.40%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EG. Citigroup cut shares of Everest Group from a "buy" rating to a "neutral" rating and reduced their price target for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Wells Fargo & Company dropped their price target on 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. Morgan Stanley lowered their price objective on Everest Group from $466.00 to $450.00 and set an "overweight" rating for the company in a research report on Monday, April 15th. 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 target price for the company. Finally, Keefe, Bruyette & Woods raised their target price 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. 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 company. According to data from MarketBeat.com, Everest Group has a consensus rating of "Moderate Buy" and a consensus target price of $432.11.

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.