Louisiana State Employees Retirement System Invests $919,000 in Everest Group, Ltd. (NYSE:EG)

Louisiana State Employees Retirement System purchased a new position in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,600 shares of the company’s stock, valued at approximately $919,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Uncommon Cents Investing LLC bought a new position in Everest Group in the 4th quarter worth $1,016,000. Oak Thistle LLC bought a new stake in Everest Group during the fourth quarter valued at about $2,717,000. Synergy Asset Management LLC bought a new stake in Everest Group during the fourth quarter valued at about $9,914,000. Cerity Partners LLC bought a new stake in Everest Group during the fourth quarter valued at about $8,055,000. Finally, State of Alaska Department of Revenue bought a new stake in Everest Group during the fourth quarter valued at about $5,821,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Trading Up 0.0 %

EG opened at $365.85 on Friday. The firm has a market cap of $19.49 billion, a P/E ratio of 6.13, a P/E/G ratio of 3.26 and a beta of 0.56. Everest Group, Ltd. has a 12 month low of $331.08 and a 12 month high of $417.92. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $376.09 and a 200 day moving average of $379.81.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping the consensus estimate of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the business posted $12.21 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. As a group, research analysts forecast that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a dividend yield of 1.91%. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

Analyst Ratings Changes

A number of equities research analysts have commented on EG shares. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $452.00 to $375.00 in a report on Monday, February 12th. Keefe, Bruyette & Woods raised their price target on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. TD Cowen started coverage on Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price on the stock. Morgan Stanley reduced their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, Wells Fargo & Company reduced their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group presently has an average rating of “Moderate Buy” and an average target price of $432.11.

Insider Buying and Selling at Everest Group

In other Everest Group news, CFO Mark Kociancic bought 1,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the transaction, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at $8,980,817. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, COO James Allan Williamson purchased 700 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the acquisition, the chief operating officer now owns 11,749 shares of the company’s stock, valued at $4,141,522.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Kociancic purchased 1,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $349.00 per share, with a total value of $349,000.00. Following the acquisition, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The disclosure for this purchase can be found here. Insiders acquired 2,485 shares of company stock worth $874,786 over the last 90 days. Company insiders own 1.20% of the company’s stock.

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.