National Pension Service Acquires 560 Shares of Everest Group, Ltd. $EG

National Pension Service lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,900 shares of the company’s stock after buying an additional 560 shares during the quarter. National Pension Service’s holdings in Everest Group were worth $10,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SVB Wealth LLC bought a new position in Everest Group during the first quarter worth $30,000. Zions Bancorporation National Association UT bought a new stake in Everest Group in the first quarter valued at $34,000. Board of the Pension Protection Fund acquired a new position in shares of Everest Group during the second quarter valued at about $34,000. WPG Advisers LLC acquired a new position in shares of Everest Group during the first quarter valued at about $37,000. Finally, Allworth Financial LP boosted its position in shares of Everest Group by 96.8% during the 2nd quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

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

Everest Group Stock Performance

Shares of EG opened at $326.11 on Friday. The firm has a market capitalization of $13.69 billion, a P/E ratio of 24.84, a P/E/G ratio of 0.25 and a beta of 0.47. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $392.78. The stock has a 50 day moving average price of $339.11 and a two-hundred day moving average price of $339.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EG) last announced its earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the previous year, the firm earned $11.80 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s payout ratio is currently 60.93%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EG shares. Keefe, Bruyette & Woods decreased their target price on Everest Group from $424.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Barclays reduced their price objective on Everest Group from $425.00 to $365.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Cowen restated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Evercore ISI upped their target price on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Finally, Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average target price of $372.36.

About Everest Group

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.