Short Interest in Everest Group, Ltd. (NYSE:EG) Grows By 5.6%

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

Insider Buying and Selling at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Everest Group

Large investors have recently added to or reduced their stakes in the business. Wedmont Private Capital grew its stake in shares of Everest Group by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after buying an additional 29 shares during the period. Dakota Wealth Management boosted its holdings in Everest Group by 1.7% in the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock valued at $705,000 after acquiring an additional 32 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Everest Group by 19.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after acquiring an additional 32 shares during the period. Steph & Co. increased its stake in Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock worth $133,000 after acquiring an additional 35 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich raised its holdings in shares of Everest Group by 2.7% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after purchasing an additional 35 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EG has been the topic of several research analyst reports. TD Cowen decreased their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Bank of America reduced their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and raised their price target for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Finally, BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $423.56.

Everest Group Price Performance

Everest Group stock opened at $341.72 on Wednesday. The firm’s 50-day moving average is $363.53 and its two-hundred day moving average is $374.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $14.69 billion, a P/E ratio of 5.35, a P/E/G ratio of 2.50 and a beta of 0.65. Everest Group has a 12-month low of $336.49 and a 12-month high of $407.30.

Everest Group (NYSE:EG) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 22.45% and a net margin of 16.99%. Equities analysts predict that Everest Group will post 36.3 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.34%. Everest Group’s payout ratio is currently 12.52%.

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.