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

Horizon Advisory Services Inc. acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 800 shares of the company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James & Associates boosted its stake in Everest Group by 29.6% in the third quarter. Raymond James & Associates now owns 31,966 shares of the company’s stock worth $12,525,000 after buying an additional 7,306 shares in the last quarter. Signaturefd LLC boosted its stake in Everest Group by 51.4% in the third quarter. Signaturefd LLC now owns 536 shares of the company’s stock worth $210,000 after buying an additional 182 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Everest Group in the third quarter worth approximately $333,000. International Assets Investment Management LLC purchased a new stake in Everest Group in the third quarter worth approximately $8,905,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Everest Group by 45.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,776 shares of the company’s stock worth $1,097,000 after buying an additional 869 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of EG stock opened at $340.50 on Tuesday. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.24 and a beta of 0.65. The business’s fifty day moving average is $352.98 and its 200 day moving average is $370.56. 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.

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 return on equity of 9.04% and a net margin of 7.95%. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on EG shares. Barclays boosted their price objective on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Wells Fargo & Company lowered their price objective on 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. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six research 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 an average target price of $416.50.

Everest Group 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.