State of New Jersey Common Pension Fund D Sells 8,731 Shares of Everest Group, Ltd. (NYSE:EG)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 36.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,376 shares of the company’s stock after selling 8,731 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Everest Group were worth $5,859,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in shares of Everest Group during the 4th quarter worth approximately $18,995,000. Dai ichi Life Insurance Company Ltd bought a new position in shares of Everest Group during the 4th quarter worth approximately $1,271,000. Tower Research Capital LLC TRC bought a new position in shares of Everest Group during the 4th quarter worth approximately $2,372,000. Corient Private Wealth LLC bought a new position in shares of Everest Group during the 4th quarter worth approximately $7,139,000. Finally, Perpetual Ltd boosted its stake in shares of Everest Group by 92.0% during the 1st quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock worth $1,878,000 after acquiring an additional 2,264 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

Shares of NYSE EG opened at $382.75 on Monday. The stock has a market capitalization of $16.56 billion, a PE ratio of 5.69, a P/E/G ratio of 2.64 and a beta of 0.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The business has a fifty day moving average price of $380.58 and a two-hundred day moving average price of $379.36. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. Everest Group’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $15.21 earnings per share. As a group, equities analysts predict that Everest Group, Ltd. will post 61.66 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.00 annualized dividend and a dividend yield of 2.09%. Everest Group’s payout ratio is 11.89%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EG shares. Wells Fargo & Company lifted their target price on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Barclays started coverage on Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price target for the company. Keefe, Bruyette & Woods dropped their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. BMO Capital Markets reissued a “market perform” rating and set a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Finally, TD Cowen dropped their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Everest Group has an average rating of “Moderate Buy” and a consensus target price of $438.09.

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.