Everest Group (NYSE:EG) Reaches New 52-Week Low – Time to Sell?

Everest Group, Ltd. (NYSE:EG)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $320.00 and last traded at $320.69, with a volume of 16310 shares traded. The stock had previously closed at $337.02.

Wall Street Analyst Weigh In

Several research firms have commented on EG. Keefe, Bruyette & Woods boosted their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Barclays increased their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Wells Fargo & Company dropped their target price 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. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $416.50.

Everest Group Price Performance

The company has a 50 day moving average price of $350.91 and a 200 day moving average price of $365.44. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $14.01 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.24 and a beta of 0.43.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) 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, equities analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were issued a $2.00 dividend. The ex-dividend date was Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.45%. Everest Group’s dividend payout ratio is currently 25.47%.

Insider Transactions at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Several institutional investors and hedge funds have recently modified their holdings of EG. Norges Bank acquired a new position in shares of Everest Group during the 4th quarter worth approximately $488,588,000. Vulcan Value Partners LLC grew its position in Everest Group by 279.1% during the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company’s stock worth $354,768,000 after buying an additional 720,572 shares in the last quarter. Sterling Capital Management LLC increased its stake in Everest Group by 11,756.0% during the 4th quarter. Sterling Capital Management LLC now owns 278,616 shares of the company’s stock worth $100,987,000 after acquiring an additional 276,266 shares during the period. Balyasny Asset Management L.P. raised its holdings in Everest Group by 14,518.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company’s stock valued at $68,882,000 after acquiring an additional 188,740 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Everest Group by 31,899.6% during the 1st quarter. GAMMA Investing LLC now owns 174,398 shares of the company’s stock valued at $63,364,000 after acquiring an additional 173,853 shares during the period. 92.64% of the stock is currently 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.