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

Illinois Municipal Retirement Fund raised its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,238 shares of the company’s stock after buying an additional 152 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Everest Group were worth $9,635,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of EG. First Trust Direct Indexing L.P. grew its holdings in shares of Everest Group by 0.9% in the first quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock valued at $1,183,000 after purchasing an additional 28 shares during the period. Fifth Third Bancorp grew its holdings in shares of Everest Group by 6.1% in the first quarter. Fifth Third Bancorp now owns 924 shares of the company’s stock valued at $367,000 after purchasing an additional 53 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Everest Group by 5.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,214 shares of the company’s stock valued at $483,000 after purchasing an additional 63 shares during the period. Allworth Financial LP purchased a new stake in shares of Everest Group in the fourth quarter valued at about $25,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Everest Group in the fourth quarter valued at about $25,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on EG shares. Wells Fargo & Company decreased their target price 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. Keefe, Bruyette & Woods decreased their target price on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley decreased their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Bank of America upped their target price on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $437.40.

Everest Group Stock Up 0.5 %

Shares of EG traded up $1.83 during mid-day trading on Friday, hitting $381.64. 176,111 shares of the company’s stock were exchanged, compared to its average volume of 250,214. The company has a market cap of $16.59 billion, a price-to-earnings ratio of 5.67, a P/E/G ratio of 2.19 and a beta of 0.63. Everest Group, Ltd. has a fifty-two week low of $343.36 and a fifty-two week high of $417.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s 50-day moving average is $380.59 and its 200-day moving average is $375.73.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.31 earnings per share. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 61.49 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were issued a $2.00 dividend. This is a boost from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $8.00 annualized dividend and a yield of 2.10%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

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.