Everest Group, Ltd. (NYSE:EG) Short Interest Update

by · The Markets Daily

Everest Group, Ltd. (NYSE:EG – Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 980,600 shares, a decline of 6.6% from the September 30th total of 1,050,000 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily volume of 376,300 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American National Bank purchased a new stake in shares of Everest Group in the 2nd quarter worth about $27,000. M&R Capital Management Inc. purchased a new stake in Everest Group in the third quarter worth about $29,000. Bruce G. Allen Investments LLC boosted its position in Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after acquiring an additional 52 shares in the last quarter. Eastern Bank purchased a new position in shares of Everest Group during the 3rd quarter worth approximately $35,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 0.9 %

Shares of NYSE:EG opened at $379.97 on Thursday. Everest Group has a 12-month low of $343.76 and a 12-month high of $417.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $387.36 and its 200-day moving average price is $380.82. The stock has a market capitalization of $16.36 billion, a P/E ratio of 5.61, a price-to-earnings-growth ratio of 2.67 and a beta of 0.61.

Everest Group (NYSE:EG – Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $15.21 earnings per share. On average, equities analysts anticipate that Everest Group will post 60.97 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 annualized dividend and a dividend yield of 2.11%. Everest Group’s payout ratio is presently 11.81%.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of recent analyst reports. UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. Barclays initiated coverage on shares of Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Morgan Stanley decreased their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price objective on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $439.27.

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Everest Group Company Profile

(Get Free Report)

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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