Everest Group (NYSE:EG) Shares Gap Down - Should You Sell?

Everest Group, Ltd. (NYSE:EG - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $353.02, but opened at $344.91. Everest Group shares last traded at $353.48, with a volume of 30,845 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EG. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Wells Fargo & Company reduced 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 note on Thursday, April 10th. UBS Group lowered their target price on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $396.00.

Everest Group Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.24 and a beta of 0.43. The company's 50 day moving average is $350.18 and its 200 day moving average is $361.97.

Everest Group (NYSE:EG - Get Free Report) last announced 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 return on equity of 9.04% and a net margin of 7.95%. On average, research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.29%. Everest Group's dividend payout ratio (DPR) is presently 25.47%.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everest Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in shares of Everest Group in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new stake in Everest Group in the 4th quarter valued at $31,000. Optiver Holding B.V. acquired a new position in Everest Group in the 4th quarter worth $51,000. Bruce G. Allen Investments LLC increased its holdings in Everest Group by 79.1% during the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after purchasing an additional 68 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Everest Group in the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 92.64% of the company's stock.

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.