Handelsbanken Fonder AB Acquires 3,982 Shares of Everest Group, Ltd. (NYSE:EG)

Handelsbanken Fonder AB increased its holdings in Everest Group, Ltd. (NYSE:EG) by 166.9% in the fourth quarter, HoldingsChannel reports. The firm owned 6,368 shares of the company’s stock after purchasing an additional 3,982 shares during the period. Handelsbanken Fonder AB’s holdings in Everest Group were worth $2,308,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EG. Brooklyn Investment Group acquired a new stake in shares of Everest Group in the third quarter worth about $39,000. Private Trust Co. NA lifted its holdings in Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after purchasing an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Everest Group in the 3rd quarter worth approximately $64,000. Avior Wealth Management LLC boosted its position in Everest Group by 22.4% during the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after purchasing an additional 47 shares during the period. Finally, Steph & Co. grew its holdings in Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after purchasing an additional 35 shares during the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Up 1.0 %

EG stock opened at $340.50 on Tuesday. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30. 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 company 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. The business’s 50-day simple moving average is $352.98 and its 200 day simple moving average is $370.56.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on EG. BMO Capital Markets cut 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 note on Thursday, January 30th. Morgan Stanley restated an “equal weight” rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. TD Cowen cut their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Finally, Barclays raised their target price on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $416.50.

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.