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

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EG shares. Keefe, Bruyette & Woods upped their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Barclays upped their price target 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. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Wells Fargo & Company reduced their price target 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $416.50.

Everest Group Stock Down 1.1 %

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm’s fifty 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 PE ratio of 10.57, a P/E/G ratio of 0.22 and a beta of 0.65.

Everest Group (NYSE:EG) last posted 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, equities research analysts expect that Everest Group, Ltd. will post 53.11 earnings per share for the current fiscal year.

Institutional Trading of Everest Group

A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its stake 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. raised its position in shares of 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 buying an additional 12,791 shares during the last quarter. Brophy Wealth Management LLC acquired a new position in shares of Everest Group in the third quarter valued at approximately $749,000. Intech Investment Management LLC lifted its stake 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 valued at $10,706,000 after buying an additional 3,166 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Everest Group by 5.5% during the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after acquiring an additional 2,818 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.