Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 1,546 Everest Group, Ltd. (NYSE:EG)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Everest Group, Ltd. (NYSE:EGFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,546 shares of the company’s stock, valued at approximately $547,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Boston Partners acquired a new position in Everest Group during the fourth quarter worth approximately $328,064,000. Dimensional Fund Advisors LP acquired a new stake in shares of Everest Group in the fourth quarter worth $173,587,000. LSV Asset Management acquired a new stake in shares of Everest Group in the fourth quarter worth $168,328,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Everest Group in the fourth quarter worth $165,243,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Everest Group in the fourth quarter valued at $133,525,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $389.61 on Tuesday. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92. The company has a 50-day moving average of $378.91 and a two-hundred day moving average of $377.44. The stock has a market cap of $16.93 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 3.45 and a beta of 0.57. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EGGet Free Report) last released its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. Everest Group’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $11.31 EPS. On average, equities research analysts expect that Everest Group, Ltd. will post 61.64 earnings per share for the current year.

Everest Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 29th will be paid a $2.00 dividend. The ex-dividend date is Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a yield of 2.05%. Everest Group’s dividend payout ratio (DPR) is presently 10.40%.

Wall Street Analyst Weigh In

EG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Citigroup downgraded shares of Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Wells Fargo & Company reduced their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Finally, Morgan Stanley reduced their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Three equities research 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. According to MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Get Our Latest Research Report on EG

About Everest Group

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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