Everest Group (NYSE:EG) Hits New 12-Month Low – Here’s Why

Everest Group, Ltd. (NYSE:EG)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company 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.

Analyst Ratings Changes

Several analysts have recently commented on EG shares. TD Cowen dropped their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. 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. Morgan Stanley reiterated an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Finally, BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Everest Group currently has an average rating of “Hold” and an average price target of $411.89.

Everest Group Trading Down 0.4 %

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 has a market cap of $14.28 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 0.22 and a beta of 0.65. The business has a 50 day moving average of $359.49 and a 200 day moving average of $373.10.

Everest Group (NYSE:EG) last released its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (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%. On average, research analysts forecast that Everest Group, Ltd. will post 53.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Everest Group during the 4th quarter valued at $31,000. Eastern Bank acquired a new stake in shares of Everest Group during the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group bought a new position in Everest Group during the third quarter worth $39,000. Private Trust Co. NA boosted its holdings 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 purchasing an additional 45 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Everest Group during the third quarter worth about $64,000. 92.64% of the stock is owned by institutional investors and hedge funds.

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.