State of Alaska Department of Revenue Cuts Holdings in Everest Group, Ltd. (NYSE:EG)

State of Alaska Department of Revenue trimmed its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 14.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,102 shares of the company’s stock after selling 2,365 shares during the quarter. State of Alaska Department of Revenue’s holdings in Everest Group were worth $5,604,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP purchased a new position in Everest Group during the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC purchased a new position in Everest Group in the fourth quarter worth $25,000. Headlands Technologies LLC purchased a new position in Everest Group in the fourth quarter worth $25,000. Janiczek Wealth Management LLC purchased a new position in Everest Group in the fourth quarter worth $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in Everest Group in the fourth quarter worth $28,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company cut their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Three research 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, Everest Group has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Everest Group Trading Down 1.3 %

NYSE:EG opened at $364.77 on Thursday. Everest Group, Ltd. has a 12 month low of $333.65 and a 12 month high of $417.92. The firm has a fifty day simple moving average of $379.89 and a 200-day simple moving average of $374.95. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $15.85 billion, a P/E ratio of 5.42, a PEG ratio of 3.24 and a beta of 0.63.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, April 29th. The company reported $16.32 EPS for the quarter, topping the consensus estimate of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm posted $11.31 earnings per share. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Everest Group, Ltd. will post 61.65 earnings per share for the current year.

Everest Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a yield of 2.19%. Everest Group’s payout ratio is currently 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.