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

Everest Group, Ltd. (NYSE:EG) was the recipient of a significant drop in short interest during 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. Based on an average daily volume of 432,900 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.3% of the shares of the company are short sold.

Insider Transactions at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the 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 sale, the director now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Several large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in Everest Group by 3.1% during the third quarter. The Manufacturers Life Insurance Company now owns 32,133 shares of the company’s stock worth $12,591,000 after purchasing an additional 969 shares in the last quarter. FMR LLC boosted its holdings in Everest Group by 21.5% during the 3rd quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after acquiring an additional 72,822 shares during the period. Public Sector Pension Investment Board grew its position in Everest Group by 2.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 7,544 shares of the company’s stock valued at $2,956,000 after acquiring an additional 200 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Everest Group by 442.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock worth $120,744,000 after purchasing an additional 251,337 shares during the period. Finally, Verition Fund Management LLC lifted its position in shares of Everest Group by 43.7% during the third quarter. Verition Fund Management LLC now owns 3,558 shares of the company’s stock worth $1,394,000 after purchasing an additional 1,082 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Everest Group Trading Up 0.0 %

EG stock traded up $0.18 during trading on Wednesday, reaching $365.59. 199,031 shares of the stock were exchanged, compared to its average volume of 366,275. The business has a 50 day moving average price of $351.50 and a 200-day moving average price of $366.15. Everest Group has a 1 year low of $327.37 and a 1 year high of $407.30. 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 firm has a market capitalization of $15.70 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last posted its earnings results 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 net margin of 7.95% and a return on equity of 9.04%. On average, research analysts predict that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were paid a $2.00 dividend. 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 (DPR) is 25.47%.

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.