Maryland State Retirement & Pension System Acquires Shares of 3,286 Everest Group, Ltd. (NYSE:EG)

Maryland State Retirement & Pension System acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, Holdings Channel reports. The fund acquired 3,286 shares of the company’s stock, valued at approximately $1,162,000.

Several other institutional investors have also modified their holdings of the stock. MeadowBrook Investment Advisors LLC purchased a new position in shares of Everest Group during the 4th quarter worth about $563,000. Leuthold Group LLC bought a new stake in Everest Group in the fourth quarter worth about $6,672,000. Metis Global Partners LLC purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $496,000. Avidian Wealth Solutions LLC bought a new position in shares of Everest Group during the fourth quarter valued at approximately $836,000. Finally, National Bank of Canada FI purchased a new stake in shares of Everest Group in the fourth quarter worth approximately $3,080,000. 92.64% of the stock is owned by institutional investors.

Everest Group Trading Up 0.6 %

NYSE:EG opened at $380.97 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.37 and a current ratio of 0.35. The firm has a 50-day simple moving average of $376.69 and a 200-day simple moving average of $377.98. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92. The firm has a market cap of $20.29 billion, a P/E ratio of 5.66, a P/E/G ratio of 3.25 and a beta of 0.57.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, April 29th. The company reported $16.32 EPS for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. Everest Group’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.31 earnings per share. Equities analysts anticipate that Everest Group, Ltd. will post 61.49 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid a $1.75 dividend. The ex-dividend date was Monday, March 18th. This represents a $7.00 annualized dividend and a yield of 1.84%. Everest Group’s dividend payout ratio (DPR) is presently 10.40%.

Insiders Place Their Bets

In other news, CFO Mark Kociancic bought 1,000 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the purchase, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Everest Group news, CFO Mark Kociancic bought 1,000 shares of Everest Group stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $349.00 per share, with a total value of $349,000.00. Following the transaction, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger M. Singer purchased 500 shares of the stock in a transaction on Monday, February 12th. The stock was 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 approximately $6,043,993.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,485 shares of company stock worth $874,786. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company reduced their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Morgan Stanley lowered 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 report on Monday, April 15th. Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Finally, TD Cowen assumed coverage on Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target for the company. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $432.11.

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.