Kentucky Retirement Systems Insurance Trust Fund Has $569,000 Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,432 shares of the company’s stock after selling 114 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Everest Group were worth $569,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in shares of Everest Group during the fourth quarter valued at $18,995,000. Dai ichi Life Insurance Company Ltd acquired a new position in Everest Group during the 4th quarter valued at about $1,271,000. Tower Research Capital LLC TRC bought a new position in Everest Group during the fourth quarter worth about $2,372,000. Corient Private Wealth LLC acquired a new position in shares of Everest Group during the 4th quarter worth about $7,139,000. Finally, Perpetual Ltd increased its stake in shares of Everest Group by 92.0% in the 1st quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock valued at $1,878,000 after acquiring an additional 2,264 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 2.5 %

NYSE EG traded up $9.18 during trading hours on Friday, hitting $382.93. 332,477 shares of the company traded hands, compared to its average volume of 311,841. 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 business’s 50-day moving average is $381.95 and its 200-day moving average is $377.66. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of 5.69, a P/E/G ratio of 1.98 and a beta of 0.63. Everest Group, Ltd. has a twelve month low of $343.36 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last released its 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 business had revenue of $4.13 billion during 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 firm’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the business earned $11.31 earnings per share. Sell-side analysts anticipate that Everest Group, Ltd. will post 61.25 earnings per share for the current year.

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, May 29th. This is a boost from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio (DPR) is currently 11.89%.

Wall Street Analysts Forecast Growth

EG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lowered their price target on Everest Group from $457.00 to $454.00 and set an “outperform” rating for the company in a report on Friday, July 12th. Morgan Stanley dropped their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company reduced their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Finally, Bank of America increased their price objective on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Three equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $437.40.

About Everest Group

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.