Everest Group, Ltd. (NYSE:EG) Holdings Cut by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,305 shares of the company's stock after selling 5,719 shares during the period. New York State Teachers Retirement System owned 0.11% of Everest Group worth $18,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American National Bank bought a new position in shares of Everest Group during the second quarter worth about $27,000. M&R Capital Management Inc. bought a new position in Everest Group in the 3rd quarter worth about $29,000. Bruce G. Allen Investments LLC increased its stake in shares of Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock valued at $31,000 after purchasing an additional 52 shares during the period. Eastern Bank bought a new stake in shares of Everest Group during the third quarter valued at approximately $35,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Everest Group by 36.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company's stock worth $44,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 92.64% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on EG. Bank of America lowered their target price on Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. Morgan Stanley lowered their price target on Everest Group from $450.00 to $445.00 and set an "overweight" rating on the stock in a report on Wednesday, July 10th. Keefe, Bruyette & Woods reduced their price objective on shares of Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Barclays lowered their target price on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, UBS Group raised shares of Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $438.36.

Everest Group Price Performance

EG stock traded down $4.64 on Friday, hitting $350.97. 552,538 shares of the company's stock traded hands, compared to its average volume of 497,039. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 5.49, a P/E/G ratio of 2.50 and a beta of 0.63. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $386.10 and a 200-day moving average of $380.58.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts' consensus estimates of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a net margin of 16.99% and a return on equity of 22.45%. Everest Group's revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $15.21 EPS. On average, analysts forecast that Everest Group, Ltd. will post 60.97 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group's dividend payout ratio is 12.52%.

Everest Group Company 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.