Everest Group, Ltd. (NYSE:EG) Short Interest Up 28.4% in January

Everest Group, Ltd. (NYSE:EG) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 799,200 shares, a growth of 28.4% from the January 15th total of 622,200 shares. Based on an average daily trading volume, of 419,900 shares, the short-interest ratio is currently 1.9 days. Approximately 2.5% of the company’s shares are sold short.

Hedge Funds Weigh In On Everest Group

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Everest Group during the fourth quarter worth $31,000. Eastern Bank acquired a new stake in shares of Everest Group in the 3rd quarter worth about $35,000. Brooklyn Investment Group bought a new position in Everest Group in the 3rd quarter valued at about $39,000. Optiver Holding B.V. acquired a new position in Everest Group during the 4th quarter valued at about $51,000. Finally, Private Trust Co. NA increased its holdings in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after purchasing an additional 45 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EG has been the topic of a number of recent analyst reports. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Barclays increased their price objective on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and a consensus target price of $416.50.

Everest Group Stock Down 0.7 %

EG traded down $2.23 during midday trading on Friday, hitting $333.18. The company had a trading volume of 398,901 shares, compared to its average volume of 451,300. The stock’s 50 day moving average price is $356.03 and its 200 day moving average price is $371.61. Everest Group has a 52 week low of $327.37 and a 52 week high of $407.30. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.22 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 (NYSE:EG) last issued its earnings results 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%. On average, research analysts anticipate that Everest Group will post 53.11 earnings per share for the current fiscal year.

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.