Spire Wealth Management Grows Position in Everest Group, Ltd. (NYSE:EG)

Spire Wealth Management increased its position in shares of Everest Group, Ltd. (NYSE:EG) by 8,883.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 539 shares of the company’s stock after buying an additional 533 shares during the quarter. Spire Wealth Management’s holdings in Everest Group were worth $195,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC increased its stake in shares of Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares during the period. Eastern Bank acquired a new position in Everest Group in the third quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new position in Everest Group in the third quarter valued at approximately $39,000. Private Trust Co. NA boosted its holdings in Everest Group by 51.7% in the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after purchasing an additional 45 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Everest Group in the third quarter valued at approximately $64,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EG shares. Wells Fargo & Company lowered their price target on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday. Barclays upped their price target on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, TD Cowen lowered their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $411.89.

Everest Group Price Performance

EG stock opened at $338.02 on Friday. The company has a market capitalization of $14.53 billion, a P/E ratio of 5.29, a PEG ratio of 2.50 and a beta of 0.65. Everest Group, Ltd. has a twelve month low of $333.05 and a twelve month high of $407.30. The business has a 50 day simple moving average of $361.48 and a 200-day simple moving average of $373.87. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 16.99% and a return on equity of 22.45%. As a group, equities analysts anticipate that Everest Group, Ltd. will post 36.3 EPS for the current year.

Insider Buying and Selling

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 completion of the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, 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 through this link. Corporate insiders own 1.20% of the company’s stock.

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.