Public Employees Retirement System of Ohio Takes Position in Everest Group, Ltd. (NYSE:EG)

Public Employees Retirement System of Ohio bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,461 shares of the company’s stock, valued at approximately $7,625,000.

Several other hedge funds and other institutional investors have also modified their holdings of EG. American National Bank bought a new position in Everest Group during the 2nd quarter worth $27,000. M&R Capital Management Inc. acquired a new stake in Everest Group in the 3rd quarter worth about $29,000. Bruce G. Allen Investments LLC raised its stake in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Eastern Bank bought a new stake in Everest Group in the 3rd quarter valued at about $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of Everest Group during the 3rd quarter worth approximately $39,000. Institutional investors own 92.64% of the company’s stock.

Insider Activity

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO James Allan Williamson sold 200 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Everest Group Price Performance

Everest Group stock opened at $362.62 on Friday. The business has a 50-day simple moving average of $377.52 and a 200 day simple moving average of $380.03. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $407.30. The stock has a market cap of $15.59 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 2.68 and a beta of 0.64. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. Everest Group’s dividend payout ratio is currently 12.52%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EG. Bank of America dropped their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets decreased their price target on Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and upped their price objective for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their target price on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Everest Group has a consensus rating of “Hold” and a consensus target price of $430.10.

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.