State of New Jersey Common Pension Fund D Makes New $8.52 Million Investment in Everest Group, Ltd. (NYSE:EG)

State of New Jersey Common Pension Fund D purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,107 shares of the company’s stock, valued at approximately $8,524,000. State of New Jersey Common Pension Fund D owned 0.06% of Everest Group as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Stevens Capital Management LP bought a new stake in shares of Everest Group during the 4th quarter valued at about $1,390,000. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Everest Group during the 4th quarter valued at approximately $407,000. Alaska Permanent Fund Corp bought a new position in shares of Everest Group during the 4th quarter valued at approximately $2,595,000. F M Investments LLC bought a new position in shares of Everest Group during the 4th quarter valued at approximately $1,567,000. Finally, Yousif Capital Management LLC bought a new position in shares of Everest Group during the 4th quarter valued at approximately $2,151,000. 92.64% of the stock is currently owned by institutional investors.

Insider Transactions at Everest Group

In other news, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Mike Karmilowicz acquired 285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $352.39 per share, with a total value of $100,431.15. Following the completion of the transaction, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger M. Singer acquired 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,485 shares of company stock valued at $874,786. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EG. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley decreased their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company decreased their price objective 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 started coverage on Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective on the stock. Finally, Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Three 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Trading Down 0.3 %

EG stock traded down $1.06 during midday trading on Friday, reaching $364.70. The company’s stock had a trading volume of 294,127 shares, compared to its average volume of 367,693. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a fifty day simple moving average of $375.92 and a two-hundred day simple moving average of $379.71. Everest Group, Ltd. has a 1 year low of $331.08 and a 1 year high of $417.92. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 3.23 and a beta of 0.56.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the firm posted $12.21 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts predict that Everest Group, Ltd. will post 61.21 EPS for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s payout ratio is 11.72%.

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.