Everest Group (NYSE:EG) Sets New 52-Week Low - Here's Why

Shares of Everest Group, Ltd. (NYSE:EG - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $330.20 and last traded at $330.20, with a volume of 19373 shares changing hands. The stock had previously closed at $333.47.

Analyst Ratings Changes

Several research firms recently issued reports on EG. Wells Fargo & Company decreased their target price on shares of Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. TD Cowen lowered their price objective on Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a research note on Monday, November 18th. Jefferies Financial Group lowered shares of Everest Group from a "buy" rating to a "hold" rating and increased their target price for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Everest Group presently has a consensus rating of "Hold" and an average target price of $416.50.

Everest Group Price Performance

The company has a 50-day simple moving average of $356.79 and a 200-day simple moving average of $372.23. The company has a market cap of $14.33 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (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%. As a group, research analysts predict that Everest Group, Ltd. will post 53.11 earnings per share for the current year.

Institutional Investors Weigh In On Everest Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after purchasing an additional 43,793 shares in the last quarter. Norges Bank bought a new stake in Everest Group in the fourth quarter valued at $488,588,000. Franklin Resources Inc. raised its holdings in shares of Everest Group by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after buying an additional 4,544 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Everest Group by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after purchasing an additional 8,321 shares during the period. Finally, Vulcan Value Partners LLC raised its position in shares of Everest Group by 279.1% during the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock worth $354,768,000 after buying an additional 720,572 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

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.