Police & Firemen s Retirement System of New Jersey Increases Holdings in Everest Group, Ltd. $EG

Police & Firemen s Retirement System of New Jersey grew its holdings in Everest Group, Ltd. (NYSE:EG) by 3.8% during the second quarter, HoldingsChannel reports. The fund owned 16,080 shares of the company’s stock after purchasing an additional 592 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Everest Group were worth $5,465,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. SVB Wealth LLC purchased a new position in Everest Group in the first quarter valued at approximately $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Everest Group in the 1st quarter valued at $34,000. Board of the Pension Protection Fund purchased a new position in shares of Everest Group in the 2nd quarter valued at $34,000. WPG Advisers LLC purchased a new position in shares of Everest Group in the 1st quarter valued at $37,000. Finally, Allworth Financial LP raised its stake in Everest Group by 96.8% during the 2nd quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 0.4%

EG stock opened at $326.11 on Friday. The stock has a market capitalization of $13.69 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 0.25 and a beta of 0.47. The company has a fifty day moving average of $339.11 and a 200-day moving average of $339.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $392.78.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the company earned $11.80 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s dividend payout ratio is currently 60.93%.

Insider Buying and Selling at Everest Group

In related news, Director William F. Galtney, Jr. purchased 11,385 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was acquired at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the acquisition, the director directly owned 45,491 shares of the company’s stock, valued at $13,983,023.58. This trade represents a 33.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan Levine acquired 3,100 shares of Everest Group stock in a transaction that occurred on Wednesday, October 29th. The stock was bought at an average price of $306.08 per share, with a total value of $948,848.00. Following the purchase, the director directly owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

EG has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Evercore ISI upped their target price on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods reduced their price objective on Everest Group from $424.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Citigroup initiated coverage on shares of Everest Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price target for the company. Finally, Barclays decreased their target price on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $372.36.

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.