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

Everest Group, Ltd. (NYSE:EG) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 611,600 shares, an increase of 5.6% from the December 15th total of 579,200 shares. Based on an average daily volume of 420,400 shares, the short-interest ratio is presently 1.5 days. Approximately 1.9% of the company’s stock are sold short.

Everest Group Price Performance

EG traded up $2.36 on Monday, hitting $362.60. 370,655 shares of the company’s stock traded hands, compared to its average volume of 277,588. The company’s 50 day simple moving average is $367.92 and its 200-day simple moving average is $376.40. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a one year low of $343.76 and a one year high of $407.30. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 5.67, a P/E/G ratio of 2.33 and a beta of 0.65.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group’s payout ratio is currently 12.52%.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the transaction, the director now owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently modified their holdings of EG. M&R Capital Management Inc. bought a new position in shares of Everest Group during the 3rd quarter valued at about $29,000. Bruce G. Allen Investments LLC boosted its stake in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 52 shares during the last quarter. Eastern Bank purchased a new position in Everest Group during the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group bought a new stake in Everest Group in the 3rd quarter worth approximately $39,000. Finally, American National Bank & Trust raised its holdings in shares of Everest Group by 80.0% during the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on EG shares. Wells Fargo & Company reduced their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Barclays dropped their price objective on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. TD Cowen decreased their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $435.44.

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.