Everest Group, Ltd. (NYSE:EG) Short Interest Down 12.8% in March

Everest Group, Ltd. (NYSE:EG - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 706,900 shares, a decrease of 12.8% from the March 15th total of 811,100 shares. Currently, 2.1% of the company's shares are sold short. Based on an average trading volume of 370,700 shares, the days-to-cover ratio is currently 1.9 days.

Everest Group Stock Performance

EG stock traded down $4.34 during trading on Friday, reaching $361.81. The company had a trading volume of 243,664 shares, compared to its average volume of 308,503. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. Everest Group has a twelve month low of $331.08 and a twelve month high of $417.92. The company has a market cap of $15.70 billion, a price-to-earnings ratio of 6.06, a price-to-earnings-growth ratio of 3.19 and a beta of 0.56. The firm has a 50-day simple moving average of $376.91 and a 200-day simple moving average of $380.73.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, beating analysts' consensus estimates of $14.63 by $10.55. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The business's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $12.21 earnings per share. As a group, sell-side analysts expect that Everest Group will post 61.21 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Monday, March 18th. Everest Group's payout ratio is 11.72%.

Insider Buying and Selling at Everest Group

In related news, CEO Mike Karmilowicz acquired 285 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the acquisition, the chief executive officer now directly owns 10,586 shares of the company's stock, valued at approximately $3,730,400.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Mike Karmilowicz acquired 285 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $352.39 per share, with a total value of $100,431.15. Following the completion of the purchase, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Kociancic bought 1,000 shares of the firm's stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $349.00 per share, with a total value of $349,000.00. Following the completion of the transaction, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The disclosure for this purchase can be found here. Insiders have acquired 2,485 shares of company stock valued at $874,786 in the last quarter. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Everest Group

A number of institutional investors and hedge funds have recently modified their holdings of EG. Dynamic Advisor Solutions LLC purchased a new position in shares of Everest Group during the first quarter worth $1,814,000. Gilman Hill Asset Management LLC purchased a new position in shares of Everest Group during the 1st quarter valued at about $2,600,000. Whitaker Myers Wealth Managers LTD. acquired a new position in shares of Everest Group in the 1st quarter valued at about $211,000. Traynor Capital Management Inc. boosted its stake in shares of Everest Group by 37.9% in the first quarter. Traynor Capital Management Inc. now owns 1,817 shares of the company's stock worth $722,000 after buying an additional 499 shares during the last quarter. Finally, Gulf International Bank UK Ltd acquired a new stake in Everest Group during the first quarter worth about $1,409,000. Institutional investors and hedge funds own 92.64% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on EG. Keefe, Bruyette & Woods upped their target price on Everest Group from $445.00 to $457.00 and gave the stock an "outperform" rating in a report on Wednesday. Wells Fargo & Company cut their target price on Everest Group from $402.00 to $397.00 and set an "equal weight" rating on the stock in a research note on Thursday. TD Cowen assumed coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a "market perform" rating and a $421.00 price target for the company. Finally, Citigroup downgraded shares of Everest Group from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $435.44.

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.

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