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

Everest Group, Ltd. (NYSE:EG) was the recipient of a large 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 stock are short sold. Based on an average daily trading volume, of 432,900 shares, the days-to-cover ratio is presently 1.7 days.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Trading of Everest Group

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Everest Group by 12.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,680 shares of the company’s stock valued at $1,696,000 after purchasing an additional 517 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in Everest Group in the fourth quarter valued at approximately $3,713,000. Park Square Financial Group LLC acquired a new position in Everest Group in the fourth quarter valued at approximately $104,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Everest Group during the 4th quarter worth approximately $12,597,000. Finally, Talaria Asset Management Pty Ltd acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $28,417,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Trading Up 0.5 %

Shares of EG traded up $1.79 during mid-day trading on Tuesday, reaching $365.12. 243,478 shares of the company were exchanged, compared to its average volume of 366,004. The business has a 50 day simple moving average of $351.46 and a two-hundred day simple moving average of $366.27. 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 stock has a market capitalization of $15.68 billion, a PE ratio of 11.62, a PEG ratio of 0.24 and a beta of 0.61. Everest Group has a 52 week low of $327.37 and a 52 week high of $407.30.

Everest Group (NYSE:EG) last issued its quarterly 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 9.04% and a net margin of 7.95%. On average, analysts predict that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.19%. Everest Group’s dividend payout ratio (DPR) is currently 25.47%.

Wall Street Analysts Forecast Growth

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

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.