Horizon Advisory Services Inc. Takes $290,000 Position in Everest Group, Ltd. (NYSE:EG)

Horizon Advisory Services Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 800 shares of the company’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EG. Raymond James & Associates increased its stake in shares of Everest Group by 29.6% in the third quarter. Raymond James & Associates now owns 31,966 shares of the company’s stock valued at $12,525,000 after buying an additional 7,306 shares during the period. Signaturefd LLC boosted its holdings in Everest Group by 51.4% in the third quarter. Signaturefd LLC now owns 536 shares of the company’s stock valued at $210,000 after acquiring an additional 182 shares during the last quarter. Private Advisor Group LLC bought a new position in Everest Group during the 3rd quarter worth approximately $333,000. International Assets Investment Management LLC bought a new position in Everest Group during the 3rd quarter worth approximately $8,905,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Everest Group by 45.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,776 shares of the company’s stock worth $1,097,000 after purchasing an additional 869 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of NYSE:EG opened at $340.50 on Tuesday. 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 stock’s fifty day simple moving average is $352.98 and its two-hundred day simple moving average is $370.56. Everest Group, Ltd. has a 1-year low of $327.37 and a 1-year high of $407.30. The stock has a market cap of $14.63 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.24 and a beta of 0.65.

Everest Group (NYSE:EG) last released 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 return on equity of 9.04% and a net margin of 7.95%. As a group, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on EG shares. Morgan Stanley restated an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. TD Cowen lowered their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.