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

Everest Group, Ltd. (NYSE:EG - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $320.00 and last traded at $320.69, with a volume of 16310 shares trading hands. The stock had previously closed at $337.02.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EG. Morgan Stanley reissued an "equal weight" rating and set a $340.00 target price (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. UBS Group reduced their price objective on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods lowered their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research note on Wednesday. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $376.00 to $415.00 in a research note on Friday. Finally, Barclays lowered their price target on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $396.00.

Everest Group Stock Up 2.5 %

The firm's 50-day simple moving average is $348.82 and its 200-day simple moving average is $363.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43.

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Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were paid a dividend of $2.00 per share. The ex-dividend date was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.29%. Everest Group's dividend payout ratio is currently 25.47%.

Insider Activity

In related news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EG. Janney Montgomery Scott LLC lifted its position in Everest Group by 152.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company's stock worth $8,225,000 after buying an additional 13,687 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Everest Group by 19.5% during the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company's stock worth $30,747,000 after purchasing an additional 12,791 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Everest Group by 5.5% during the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company's stock worth $21,117,000 after purchasing an additional 2,818 shares in the last quarter. Stifel Financial Corp boosted its position in Everest Group by 3.9% in the 3rd quarter. Stifel Financial Corp now owns 4,347 shares of the company's stock valued at $1,704,000 after buying an additional 162 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Everest Group in the 4th quarter valued at $325,000. Institutional investors own 92.64% of the company's stock.

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.