California Public Employees Retirement System Sells 41,404 Shares of Everest Group, Ltd. $EG

California Public Employees Retirement System reduced its position in shares of Everest Group, Ltd. (NYSE:EG) by 21.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 152,390 shares of the company’s stock after selling 41,404 shares during the quarter. California Public Employees Retirement System owned 0.36% of Everest Group worth $51,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EG. SVB Wealth LLC bought a new position in Everest Group in the 1st quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Everest Group in the 1st quarter worth $34,000. Board of the Pension Protection Fund purchased a new position in shares of Everest Group in the second quarter worth $34,000. WPG Advisers LLC bought a new position in shares of Everest Group during the first quarter valued at $37,000. Finally, Allworth Financial LP boosted its position in shares of Everest Group by 96.8% during the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock valued at $62,000 after buying an additional 90 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EG shares. Wall Street Zen lowered Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Raymond James Financial reissued an “outperform” rating and set a $350.00 price objective on shares of Everest Group in a report on Monday, November 3rd. Evercore ISI increased their price objective on shares of Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $368.77.

Everest Group Stock Performance

Shares of NYSE EG opened at $310.51 on Wednesday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $373.23. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 0.27 and a beta of 0.39. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $329.25 and a 200 day moving average of $335.19.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a return on equity of 3.74% and a net margin of 3.12%.The business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the business earned $11.80 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. Everest Group’s dividend payout ratio (DPR) is 60.93%.

Insider Transactions at Everest Group

In other news, Director Allan Levine bought 3,100 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were bought at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the purchase, the director owned 4,153 shares in the company, valued at approximately $1,271,150.24. The trade was a 294.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William F. Galtney, Jr. purchased 11,385 shares of the stock in a transaction on Wednesday, October 29th. The shares were purchased at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the acquisition, the director directly owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This represents a 33.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by insiders.

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.