Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stake in Everest Group, Ltd. (NYSE:EG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,139 shares of the company’s stock after selling 281 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Everest Group were worth $3,313,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in Everest Group by 152.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after buying an additional 13,687 shares in the last quarter. JPMorgan Chase & Co. increased its position in Everest Group by 19.5% during the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after buying an additional 12,791 shares in the last quarter. Brophy Wealth Management LLC purchased a new position in Everest Group during the third quarter worth $749,000. Principal Financial Group Inc. boosted its holdings in shares of Everest Group by 5.5% during the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after purchasing an additional 2,818 shares during the last quarter. Finally, Bridgewater Associates LP boosted its holdings in shares of Everest Group by 16.3% during the third quarter. Bridgewater Associates LP now owns 27,297 shares of the company’s stock worth $10,696,000 after purchasing an additional 3,834 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the topic of several analyst reports. Barclays raised their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $416.50.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Everest Group Price Performance

Shares of Everest Group stock opened at $353.19 on Monday. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30. The stock has a market capitalization of $15.16 billion, a P/E ratio of 11.24, a PEG ratio of 0.24 and a beta of 0.61. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $350.90 and its 200 day moving average price is $367.09.

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

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, March 17th. Everest Group’s dividend payout ratio is presently 25.47%.

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.