Illinois Municipal Retirement Fund Buys New Position in Everest Group, Ltd. (NYSE:EG)

Illinois Municipal Retirement Fund bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,086 shares of the company’s stock, valued at approximately $8,516,000. Illinois Municipal Retirement Fund owned about 0.06% of Everest Group as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Allworth Financial LP purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC bought a new stake in Everest Group during the fourth quarter worth $25,000. Janiczek Wealth Management LLC bought a new stake in Everest Group during the fourth quarter worth $27,000. Trifecta Capital Advisors LLC bought a new stake in Everest Group during the fourth quarter worth $28,000. Finally, DT Investment Partners LLC bought a new stake in Everest Group during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Everest Group stock opened at $368.43 on Wednesday. Everest Group, Ltd. has a 52 week low of $331.08 and a 52 week high of $417.92. The business has a 50-day simple moving average of $376.19 and a 200 day simple moving average of $380.08. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 3.29 and a beta of 0.56.

Everest Group (NYSE:EG) last posted its 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 business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the business earned $12.21 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. On average, research analysts forecast that Everest Group, Ltd. will post 61.21 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EG shares. Morgan Stanley dropped their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Wells Fargo & Company dropped their price target 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. TD Cowen began coverage on Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Insider Activity

In related news, Director Roger M. Singer bought 500 shares of the stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the purchase, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Everest Group news, CFO Mark Kociancic purchased 1,000 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $349.00 per share, with a total value of $349,000.00. Following the transaction, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger M. Singer purchased 500 shares of the stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now directly owns 16,920 shares in the company, valued at $6,043,993.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,485 shares of company stock valued at $874,786. Insiders own 1.20% of the company’s stock.

Everest Group 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.