New York State Teachers Retirement System Has $13.91 Million Position in Everest Group, Ltd. $EG

New York State Teachers Retirement System reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 40,931 shares of the company’s stock after selling 131 shares during the quarter. New York State Teachers Retirement System’s holdings in Everest Group were worth $13,910,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sowell Financial Services LLC acquired a new stake in shares of Everest Group in the first quarter valued at $231,000. State of Alaska Department of Revenue increased its position in Everest Group by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 6,924 shares of the company’s stock worth $2,515,000 after purchasing an additional 130 shares during the period. Blue Trust Inc. increased its position in Everest Group by 54.6% in the first quarter. Blue Trust Inc. now owns 541 shares of the company’s stock worth $197,000 after purchasing an additional 191 shares during the period. Praxis Investment Management Inc. increased its position in Everest Group by 58.1% in the first quarter. Praxis Investment Management Inc. now owns 4,490 shares of the company’s stock worth $1,631,000 after purchasing an additional 1,650 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in Everest Group by 3.7% in the first quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock worth $306,000 after purchasing an additional 30 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of EG opened at $349.46 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $392.78. The stock has a market cap of $14.66 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. The stock’s 50-day moving average price is $343.85 and its two-hundred day moving average price is $341.98.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter last year, the business earned $16.85 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. On average, equities analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s payout ratio is 42.46%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Raymond James Financial set a $375.00 price objective on Everest Group and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Cantor Fitzgerald upgraded Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Wolfe Research upgraded Everest Group to a “strong sell” rating in a research report on Tuesday, September 16th. Finally, Citigroup assumed coverage on Everest Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective for the company. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and an average price target of $382.79.

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.