Arizona State Retirement System Increases Holdings in Everest Group, Ltd. (NYSE:EG)

Arizona State Retirement System grew its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,569 shares of the company’s stock after buying an additional 118 shares during the period. Arizona State Retirement System’s holdings in Everest Group were worth $4,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of EG. SBI Securities Co. Ltd. purchased a new stake in Everest Group during the 4th quarter worth about $31,000. Brooklyn Investment Group purchased a new stake in Everest Group during the 3rd quarter worth about $39,000. Private Trust Co. NA lifted its holdings in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after buying an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Everest Group during the 3rd quarter worth about $64,000. Finally, Avior Wealth Management LLC lifted its holdings in Everest Group by 22.4% during the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after buying an additional 47 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Performance

Shares of EG stock opened at $363.88 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock’s 50-day moving average price is $352.43 and its 200 day moving average price is $369.55. Everest Group, Ltd. has a 52-week low of $327.37 and a 52-week high of $407.30. The stock has a market capitalization of $15.62 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61.

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

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Analysts Set New Price Targets

A number of research firms have recently commented on EG. Morgan Stanley reiterated an “equal weight” rating and set a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Wells Fargo & Company cut their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. TD Cowen cut their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Everest Group presently has an average rating of “Hold” and an average target price 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.