Everest Group, Ltd. (NYSE:EG) Short Interest Down 16.1% in March

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

Insider Transactions at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total value 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. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Everest Group

Several institutional investors and hedge funds have recently modified their holdings of EG. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 stake in shares of Everest Group in the fourth quarter valued at approximately $3,713,000. Park Square Financial Group LLC acquired a new stake in Everest Group during the fourth quarter worth approximately $104,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Everest Group during the 4th quarter worth $12,597,000. Finally, Talaria Asset Management Pty Ltd bought a new position in Everest Group during the 4th quarter worth $28,417,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Performance

EG traded up $1.79 on Tuesday, reaching $365.12. The company had a trading volume of 243,478 shares, compared to its average volume of 366,004. The company’s fifty day moving average is $351.46 and its 200 day moving average is $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 cap of $15.68 billion, a P/E ratio of 11.62, 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 posted 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 net margin of 7.95% and a return on equity of 9.04%. As a group, 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 announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group’s dividend payout ratio is currently 25.47%.

Wall Street Analyst Weigh In

EG has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on 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. Morgan Stanley restated an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Barclays increased their price target on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Six 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 a consensus target price of $416.50.

Everest Group Company 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.