Hussman Strategic Advisors Inc. Takes $761,000 Position in Everest Group, Ltd. (NYSE:EG)

Hussman Strategic Advisors Inc. acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,100 shares of the company’s stock, valued at approximately $761,000.

A number of other institutional investors have also recently made changes to their positions in EG. Eastern Bank purchased a new stake in Everest Group in the third quarter worth $35,000. Brooklyn Investment Group purchased a new stake in Everest Group in the third quarter worth $39,000. Private Trust Co. NA lifted its stake in Everest Group by 51.7% in the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after acquiring an additional 45 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Everest Group in the third quarter worth $64,000. Finally, Avior Wealth Management LLC lifted its stake in Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

EG opened at $338.32 on Friday. The stock has a fifty day simple moving average of $353.83 and a two-hundred day simple moving average of $370.70. 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 cap of $14.54 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 0.22 and a beta of 0.65. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Research analysts predict that Everest Group, Ltd. will post 53.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on EG shares. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Jefferies Financial Group lowered 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 research note on Tuesday, November 26th. Wells Fargo & Company decreased their price objective 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, TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Everest Group has a consensus rating of “Hold” and an average price target 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.