Everest Group, Ltd. (NYSE:EG) Sees Significant Increase in Short Interest

Everest Group, Ltd. (NYSE:EG) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 611,600 shares, a growth of 5.6% from the December 15th total of 579,200 shares. Based on an average trading volume of 420,400 shares, the short-interest ratio is currently 1.5 days. Currently, 1.9% of the shares of the stock are short sold.

Insider Transactions at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EG. M&R Capital Management Inc. bought a new stake in Everest Group during the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC lifted its stake in shares of Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares during the last quarter. Eastern Bank purchased a new stake in shares of Everest Group during the 3rd quarter worth $35,000. Brooklyn Investment Group bought a new stake in Everest Group during the third quarter valued at about $39,000. Finally, American National Bank & Trust grew its stake in Everest Group by 80.0% in the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after purchasing an additional 56 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

Shares of EG stock opened at $362.60 on Tuesday. Everest Group has a twelve month low of $343.76 and a twelve month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $367.78 and a two-hundred day simple moving average of $376.39. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 5.67, a P/E/G ratio of 2.44 and a beta of 0.65.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Barclays cut their price objective on Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets upgraded Everest Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $372.00 to $453.00 in a research note on Friday, January 10th. Finally, TD Cowen lowered their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and a consensus target price of $435.44.

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.