Everest Group (NYSE:EG) Reaches New 12-Month Low – Should You Sell?

Shares of Everest Group, Ltd. (NYSE:EG) reached a new 52-week low on Tuesday . The company traded as low as $330.20 and last traded at $330.20, with a volume of 19373 shares traded. The stock had previously closed at $333.47.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of 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 raised their price objective on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. TD Cowen cut 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. Finally, BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $416.50.

Everest Group Stock Down 1.1 %

The firm’s 50 day simple moving average is $357.57 and its 200-day simple moving average is $372.49. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 0.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

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 net margin of 7.95% and a return on equity of 9.04%. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 53.11 earnings per share for the current year.

Institutional Investors Weigh In On Everest Group

Large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in Everest Group by 152.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock valued at $8,225,000 after purchasing an additional 13,687 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Everest Group by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after purchasing an additional 12,791 shares during the period. Brophy Wealth Management LLC acquired a new stake in shares of Everest Group during the third quarter worth about $749,000. Intech Investment Management LLC grew its holdings in shares of Everest Group by 13.1% during the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after buying an additional 3,166 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Everest Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after acquiring an additional 2,818 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

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.