Everest Group, Ltd. (NYSE:EG) Sees Large Drop in Short Interest

Everest Group, Ltd. (NYSE:EG) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 736,900 shares, a drop of 16.1% from the February 28th total of 878,200 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 432,900 shares, the short-interest ratio is presently 1.7 days.

Insider Activity at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Everest Group

Institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new position in Everest Group during the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new stake in Everest Group in the fourth quarter valued at $31,000. Optiver Holding B.V. acquired a new position in shares of Everest Group during the fourth quarter valued at $51,000. Wilmington Savings Fund Society FSB bought a new position in shares of Everest Group during the third quarter worth about $64,000. Finally, Private Trust Co. NA lifted its position in Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after purchasing an additional 64 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays upped their price target on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $416.50.

Everest Group Stock Down 0.9 %

Shares of EG stock traded down $3.42 during mid-day trading on Thursday, reaching $361.92. 175,058 shares of the company were exchanged, compared to its average volume of 365,723. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50 day simple moving average is $351.50 and its 200 day simple moving average is $366.15. The company has a market capitalization of $15.54 billion, a P/E ratio of 11.54, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group has a fifty-two week low of $327.37 and a fifty-two week high of $407.30.

Everest Group (NYSE:EG) last issued its earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Research analysts predict that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.21%. Everest Group’s dividend payout ratio (DPR) is 25.47%.

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.