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

State of Alaska Department of Revenue decreased its position in shares of Everest Group, Ltd. (NYSE:EG) by 14.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 14,102 shares of the company’s stock after selling 2,365 shares during the period. State of Alaska Department of Revenue’s holdings in Everest Group were worth $5,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP bought a new stake in shares of Everest Group in the 4th quarter worth approximately $25,000. Avior Wealth Management LLC bought a new stake in shares of Everest Group in the 4th quarter worth approximately $25,000. Headlands Technologies LLC bought a new stake in shares of Everest Group in the 4th quarter worth approximately $25,000. Janiczek Wealth Management LLC bought a new stake in shares of Everest Group in the 4th quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Everest Group in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

EG has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on 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 boosted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley lowered their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. 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.com, Everest Group presently has an average rating of “Moderate Buy” and a consensus target price of $432.11.

Everest Group Stock Performance

EG stock opened at $364.77 on Thursday. The stock has a market capitalization of $15.85 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 3.24 and a beta of 0.63. Everest Group, Ltd. has a 12-month low of $333.65 and a 12-month 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 0.25. The stock’s 50 day simple moving average is $379.89 and its 200 day simple moving average is $374.95.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating the consensus estimate of $15.98 by $0.34. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.31 EPS. As a group, research analysts forecast that Everest Group, Ltd. will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.19%. 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. Everest Group’s dividend payout ratio is presently 11.89%.

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.