Principal Financial Group Inc. Decreases Stake in Everest Group, Ltd. (NYSE:EG)

Principal Financial Group Inc. decreased its holdings in Everest Group, Ltd. (NYSE:EG) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,102 shares of the company’s stock after selling 2,790 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Everest Group worth $18,522,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EG. Brooklyn Investment Group acquired a new stake in shares of Everest Group in the 3rd quarter worth approximately $39,000. Private Trust Co. NA grew 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 valued at $52,000 after purchasing an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Everest Group in the third quarter valued at $64,000. Avior Wealth Management LLC raised its stake in shares of Everest Group by 22.4% during the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after buying an additional 47 shares during the last quarter. Finally, Steph & Co. boosted its position in shares of Everest Group by 10.6% in the 4th quarter. Steph & Co. now owns 366 shares of the company’s stock worth $133,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EG. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods increased their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. TD Cowen dropped their price target 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, Morgan Stanley restated an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six equities 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, Everest Group currently has a consensus rating of “Hold” and a consensus price target of $416.50.

Everest Group Price Performance

EG stock opened at $340.50 on Tuesday. The stock has a market capitalization of $14.63 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.24 and a beta of 0.65. 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, Ltd. has a 52-week low of $327.37 and a 52-week high of $407.30. The stock’s fifty day simple moving average is $352.98 and its 200-day simple moving average is $370.56.

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

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.