California Public Employees Retirement System Cuts Position in Everest Group, Ltd. (NYSE:EG)

California Public Employees Retirement System trimmed its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,923 shares of the company’s stock after selling 3,061 shares during the period. California Public Employees Retirement System owned about 0.47% of Everest Group worth $72,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EG. Vanguard Group Inc. raised its holdings in shares of Everest Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company’s stock valued at $2,015,288,000 after buying an additional 43,793 shares during the period. Norges Bank acquired a new stake in Everest Group in the fourth quarter valued at approximately $488,588,000. Geode Capital Management LLC raised its stake in shares of Everest Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock valued at $453,818,000 after purchasing an additional 16,180 shares during the period. William Blair Investment Management LLC lifted its position in shares of Everest Group by 10.5% during the fourth quarter. William Blair Investment Management LLC now owns 642,813 shares of the company’s stock worth $232,994,000 after purchasing an additional 61,026 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Everest Group by 1.4% in the fourth quarter. Assetmark Inc. now owns 415,638 shares of the company’s stock valued at $150,652,000 after purchasing an additional 5,649 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value of $540,945.00. Following the sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $363.91 on Tuesday. The stock has a market capitalization of $15.62 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The business’s fifty day moving average price is $351.46 and its 200 day moving average price is $366.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Equities research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Wall Street Analysts Forecast Growth

EG has been the topic of several analyst reports. Barclays lifted their price target on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Wells Fargo & Company decreased their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and an average price target of $416.50.

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.