Everest Group, Ltd. (NYSE:EG) Sees Large Increase in Short Interest

Everest Group, Ltd. (NYSE:EG - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 894,600 shares, an increase of 21.4% from the March 15th total of 736,900 shares. Approximately 2.5% of the company's shares are sold short. Based on an average daily trading volume, of 439,100 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EG shares. Keefe, Bruyette & Woods lowered their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on shares of Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. 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 report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and increased their price target for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $396.00.

Everest Group Stock Performance

Shares of EG stock traded down $3.02 during trading hours on Friday, hitting $352.17. The stock had a trading volume of 64,972 shares, compared to its average volume of 370,183. The stock's 50 day moving average is $351.75 and its 200 day moving average is $361.12. The firm has a market capitalization of $16.83 billion, a PE ratio of 11.21, a PEG ratio of 0.24 and a beta of 0.43. Everest Group has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts' consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, research analysts forecast that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Monday, March 17th. Everest Group's dividend payout ratio (DPR) is currently 25.47%.

Insider Activity

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Everest Group

A number of institutional investors and hedge funds have recently made changes to their positions in EG. Sunbelt Securities Inc. acquired a new stake in shares of Everest Group during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Everest Group in the 4th quarter valued at $31,000. Tsfg LLC purchased a new stake in Everest Group during the first quarter valued at about $33,000. Optiver Holding B.V. acquired a new stake in Everest Group during the 4th quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC grew its stake in Everest Group by 79.1% during the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after buying an additional 68 shares during the period. 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.