Everest Group (NYSE:EG) Reaches New 1-Year Low – Here’s Why

Everest Group, Ltd. (NYSE:EG)’s share price hit 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. The stock had previously closed at $337.02.

Analyst Ratings Changes

Several equities analysts have recently commented on EG shares. Morgan Stanley restated an “equal weight” rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Wells Fargo & Company lowered their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $416.50.

Everest Group Trading Down 3.2 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $14.01 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The business’s fifty day moving average price is $350.91 and its 200 day moving average price is $365.44.

Everest Group (NYSE:EG) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. bought a new position in shares of Everest Group during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in Everest Group during the fourth quarter worth $31,000. Optiver Holding B.V. acquired a new stake in Everest Group in the fourth quarter worth $51,000. Wilmington Savings Fund Society FSB bought a new stake in Everest Group in the third quarter valued at $64,000. Finally, Private Trust Co. NA raised its holdings in shares of Everest Group by 48.5% during the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after purchasing an additional 64 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.