Maryland State Retirement & Pension System Lowers Stock Position in Everest Group, Ltd. (NYSE:EG)

Maryland State Retirement & Pension System lessened its stake in Everest Group, Ltd. (NYSE:EG) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,382 shares of the company’s stock after selling 83 shares during the period. Maryland State Retirement & Pension System’s holdings in Everest Group were worth $863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EG. Dakota Wealth Management lifted its holdings in shares of Everest Group by 1.7% during the 4th quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock worth $705,000 after acquiring an additional 32 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in Everest Group by 19.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after purchasing an additional 32 shares in the last quarter. Steph & Co. lifted its stake in Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock worth $133,000 after purchasing an additional 35 shares during the last quarter. Lester Murray Antman dba SimplyRich boosted its holdings in shares of Everest Group by 2.7% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after purchasing an additional 35 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its position in shares of Everest Group by 5.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 661 shares of the company’s stock valued at $239,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Everest Group Stock Performance

Everest Group stock opened at $353.19 on Monday. Everest Group, Ltd. has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The stock’s 50 day simple moving average is $350.90 and its two-hundred day simple moving average is $367.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share 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%. As a group, analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.27%. Everest Group’s dividend payout ratio (DPR) is currently 25.47%.

Wall Street Analyst Weigh In

EG has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Barclays increased their price objective on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group downgraded shares of 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 note on Tuesday, November 26th. Wells Fargo & Company dropped 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. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $416.50.

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.